Erad Raises $22M to Expand SME Financing in KSA

Riyadh-based startup Erad has closed a Series A financing round worth US$22 million (about SAR 78.75 million), announced in September 2026, to expand its financing services for small and medium-sized businesses across Saudi Arabia and the Gulf.

The round was led by MEVP, with participation from SVC, 500 Global, S60 Ventures, ANB Capital, Conjunction Capital, and Araya Ventures. Erad said the new capital will help expand its financing products, technology, and operations in Saudi Arabia and the wider Gulf Cooperation Council.

What Erad Offers

Erad provides Shariah-compliant working-capital financing to small and medium-sized businesses in Saudi Arabia and the UAE. Financing is available up to SAR 10 million, with typical uses including inventory purchases, fleet expansion, opening new locations, and fulfilling larger contracts.

The company relies on business cash-flow data and artificial-intelligence credit assessment to evaluate applications, reporting an average approval time of within 48 hours.

For the community, the funding signals continued growth in options available to smaller businesses seeking faster access to capital. Small and medium-sized enterprises make up a large share of employment and economic activity in the Kingdom, and expanded financing tools can help owners manage cash flow, scale operations, and take on new work.

---

Stay updated with the latest news, events, sports updates, business insights, real estate and lifestyle stories on Saudi Living — the leading online platform for residents, expats, and visitors in Saudi Arabia.

Follow Saudi Living for daily updates:

• Instagram - @saudiliving
• X - @saudiliving
• Facebook - @saudiliving
• YouTube - @saudiliving