• Providing non-dilutive funding, erad solves the capital problem for online businesses without requiring equity or collateral.
  • Leveraging sales, marketing, and banking data, erad ensures quick funding offers within 48 hours, streamlining repayments via automated online transactions.
  • Founded by skilled individuals who recognized the funding gap for online businesses, erad offers a secure, Shariah-compliant financing alternative that aligns with Islamic principles, receiving praise for its efficiency from satisfied users and recently securing $2.4 million in Pre-Seed funding.

Introduction:

In the dynamic landscape of Middle Eastern startups, erad emerges as a game-changer, offering non-dilutive growth capital to online businesses. Co-founded by Salem Abu-Hammour, Youssef Said, and Faris Yaghmour, erad is making waves with its innovative approach to financing.

Key features:

  • Non-Dilutive Funding: Addressing the capital problem faced by online businesses, erad provides non-dilutive funding, eliminating the need for equity and collateral.
  • Data-Driven Process: By leveraging sales, marketing, and banking data, erad ensures a swift and informed underwriting process, delivering funding offers within 48 hours.
  • Automated Repayments: The platform streamlines repayments by processing online payments, offering a hassle-free and efficient financial solution for businesses.

Company background:

erad, founded in 2022 and headquartered in Riyadh, Saudi Arabia, comprises a passionate team of five individuals. With Salem Abu-Hammour's background in M&A and banking, Faris Yaghmour's experience in the financial services world, and Youssef Said's tech expertise, erad brings a unique blend of skills to the table.

Problem and solution:

The founders, driven by their challenges in a previous online business, recognized the funding gap for online businesses. erad steps in as the solution, providing payment processing and non-dilutive funding. The platform's ability to connect to various business systems enables a swift and efficient financing process.

Shariah-compliant and secure:

Beyond financial benefits, erad stands out as a Shariah-compliant financing option, aligning with Islamic principles. The platform prioritizes data security, employing end-to-end encryption to handle sensitive business information.

User testimonials:

Founders across the Middle East express satisfaction with erad's services. From ExtraJoy's 35% growth in six months to The Co-Working Spaces praising the streamlined approach, testimonials highlight the platform's efficiency and effectiveness.

Funding success:

In a testament to its promising model, erad recently secured $2.4 million in a Pre-Seed funding round from investors like Khwarizmi Ventures. This achievement underscores the trust investors place in erad's vision and its potential impact on the startup ecosystem.

Conclusion:

As erad continues to redefine funding norms in the Middle East, it emerges not just as a financial platform but as a catalyst for growth. With its commitment to transparency, fast approvals, and flexible repayments, erad positions itself as an invaluable partner for startups seeking sustainable and scalable financial solutions.


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Edited by Shruti Thapa