RIYADH: Startup funding activity across the Middle East and North Africa region continues to show resilience, with fintech and artificial intelligence-focused ventures drawing significant investor interest.
From early-stage rounds to global expansion plays, startups across Saudi Arabia, the UAE, Jordan, and Tunisia have secured new backing to accelerate growth, scale technologies, and strengthen digital infrastructure.
Saudi Arabia-based fintech startup erad has secured $33 million in debt financing, marking Indian venture debt firm Stride Ventures’ first investment in the Kingdom.
The transaction, closed during Money20/20 Riyadh, included participation from other undisclosed investors.
Founded in 2022 by Salem Abu-Hammour, Faris Yaghmour, Abdulmalik Al-Meheini, and Youssef Said, erad offers Shariah-compliant, data-driven financing solutions to micro, small and medium-sized enterprises in Saudi Arabia and the UAE.
