Erad Raises $22 Million in Series A Funding
Riyadh-based Erad, a company specializing in providing fast and flexible financing solutions for small and medium-sized enterprises (SMEs), announced on September 28, 2026, that it has raised $22 million in a Series A funding round. Erad offers services such as revenue-based financing, invoice financing, and working capital, with a focus on quick funding options that are licensed and Sharia compliant.
Investment Details
The Series A round was led by Middle East Venture Partners, with participation from a diverse group of investors including Saudi Venture Capital, 500 Global, S60 Ventures, ANB Capital, Conjunction Capital, Araya Ventures, Khwarizmi Ventures, Nuwa Capital, Aljazira Capital, Oraseya Capital, and Joa Capital.
Leadership and Vision
Erad was co-founded by Faris Yaghmour, who serves as Chief Commercial Officer, Salem Abu-Hammour, who is the CEO, and Youssef Said, the Chief Technology and Product Officer. Under their leadership, the company aims to address the financing needs of SMEs with innovative and compliant solutions.
Strategic Use of Funds
While specific plans for the use of the newly acquired funds were not detailed, the investment is expected to support Erad's mission to expand its financial solutions and enhance its service offerings for SMEs.
Conclusion
With this significant capital injection, Erad is well-positioned to continue its growth trajectory and further solidify its presence in the SME financing sector.