The Riyadh-based fintech has deployed over SR 500 million in SME financing and says demand has surpassed SR 4 billion.
Riyadh-headquartered SME financing platform erad has raised $22 million in a Series A round led by MEVP, as the company looks to expand its Shariah-compliant financing products across Saudi Arabia and the wider GCC. The round included new investors SVC, 500 Global, S60 Ventures, ANB Capital, Conjunction Capital and Araya Ventures, alongside existing backers Khwarizmi Ventures,…
