- Already secured $33m debt deal
- 48% rise in new business registrations
- $250bn financing gap for regional SMEs
Saudi fintech Erad plans to lend $100 million to small and medium-sized enterprises in the Gulf over the next year as it increases its presence in Saudi Arabia.
The company, which is based in Riyadh but only began working in the kingdom in January, finalised a $33 million debt deal earlier this month, but is aiming to secure another large financing facility to support its expansion.
CEO and co-founder Salem Abu-Hammour told AGBI that the company is in talks with…
