{
Salem Abu Hammour

People

}
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iQ Cars and BloomPath secure funding to innovate in their markets

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.
ArabFounders
Tubacex, S.A. SAU ARE GBR IRQ Fayez Al Anazi Mohammad Kotb Salem Abu Hammour Faris Yaghmour Youssef Said Ahmed Gad Fadi Ghandour Saed Nashef Abdulmalik Almeheini Show more
Business & Industry, News Article
04:22 01.05.2025

erad secures 16 million dollars to enhance financing for small businesses

Erad, a Riyadh-based alternative financing platform for SMEs, has secured $16 million in a Pre-Series A funding round to enhance its operations in Saudi Arabia and beyond. The investment, backed by notable global and regional funds, will enable erad to provide rapid, Shariah-compliant financing solutions, having already disbursed over SAR 100 million to businesses in the region. With a focus on financial inclusion, the company aims to expand its product offerings and increase local hiring, contributing to Saudi Vision 2030's economic goals.
Fintechnews Middle East
Saudi Riyal United States Dollar Citron, Inc. SAU ARE Salem Abu Hammour
Business & Industry, News Article
11:53 30.04.2025

erad secures 16 million dollars to enhance SME financing in Saudi Arabia

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.
WAYA
United States Dollar Saudi Riyal Aljazira Capital SAU Faris Yaghmour Youssef Said Salem Abu Hammour Abdulmalik Almeheini Show more
Business & Industry, Press Release
10:39 30.04.2025

saudi fintech erad secures 16 million in pre-series a funding round

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.
MENAbytes
Saudi Riyal United Arab Emirates Dirham Citron, Inc. SAU ARE Faris Yaghmour Youssef Said Salem Abu Hammour Abdulmalik Almeheini Show more
Business & Industry, News Article
08:05 30.04.2025
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