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iQ Cars is set to enhance its market presence in Iraq by expanding to major cities and launching new digital tools, including AI-powered evaluations and financing calculators. The company aims to build trust and improve user experience while introducing certified listings and aftersales services.Meanwhile, BloomPath, a US-based startup founded by MENA talents, has raised $1.3 million to develop an AI-driven platform that enhances team performance through real-time feedback and continuous management. With this funding, BloomPath plans to accelerate product development and expand its customer base.
Erad has raised USD 16 million in a Pre-Series A funding round led by YCombinator and Nuwa Capital to expand its data-driven SME financing platform in Saudi Arabia and the GCC. The startup aims to address a USD 250 billion credit gap by providing fast, Shariah-compliant capital to underserved SMEs, enhancing financial accessibility and supporting sustainable economic growth in line with Saudi Arabia's Vision 2030. Founded in 2022, Erad focuses on sectors like retail, healthcare, and F&B, with over 60% of its customers being first-time credit seekers.
Saudi fintech Erad has secured $16 million in a Pre-Series A funding round to enhance its revenue-based financing platform, targeting SMEs in Saudi Arabia and the UAE. The investment, led by global and regional investors, aims to expand operations and improve product offerings, addressing the capital needs of businesses in various sectors. Since its launch, Erad has deployed over $26.6 million in funding, with a focus on fostering financial inclusion for first-time credit takers.
Faris Yaghmour
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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