Erad provides non-dilutive funding solutions for online businesses in the Middle East, utilizing a data-driven approach to assess financial needs and deliver capital within 48 hours. This service addresses the challenge of accessing timely working capital without relinquishing equity, enabling businesses to grow and invest in their operations efficiently.
Funding
$2.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+3Founders
Product
Problem
Online businesses in the Middle East often face challenges in accessing timely working capital to fuel growth and manage operational expenses. Traditional funding sources may require relinquishing equity or involve lengthy approval processes, hindering businesses from seizing immediate opportunities.
Solution
Erad provides Shariah-compliant, non-dilutive growth funding solutions tailored for online businesses in the Middle East. By leveraging secure data connections to platforms like Shopify and Quickbooks, Erad offers a streamlined application process and delivers funding in as fast as 48 hours. This data-driven approach enables businesses to access capital without giving up equity, allowing them to invest in marketing, inventory, and other growth initiatives. Erad's long-term partnership model also provides businesses with the option to top up for extra funding as needed, along with access to key business insights.
Target Audience
Erad primarily targets e-commerce, SaaS, and restaurant businesses in the Middle East seeking flexible and rapid access to working capital.
Features
- Fast approval process leveraging advanced data models for quick business assessment
- Secure data connections to platforms like Shopify and Quickbooks for streamlined application
- Shariah-compliant financing based on the principles of Tawaruq
- Option for top-ups, allowing access to extra funding as needed
- Access to key insights to support business growth