Saudi Arabia-based fintech erad has secured $33 million in debt financing, led by India’s Stride Ventures, marking its first major investment in the Kingdom. Last April, erad raised a $16 million pre-Series A funding round, backed by Y Combinator, Nuwa Capital, and other investors. Press release:erad, the Riyadh-headquartered alternative financing platform for SMEs, has raised $33 million in debt financing to expand its operations in Saudi Arabia and the rest of the GCC. The round was led by Stride Ventures, which has recently doubled its team size in the region and also achieved the first close of its landmark ADGM Fund V, alongside participation from other investors. Since its founding, erad has received requests for more than $532 million in funding from well-known regional brands in Saudi Arabia and the UAE.