Salem Abu-Hammour, the Co-Founder and CEO of Erad, has become a driving force in the Middle East’s fintech sector. He has spent years building a company that gives small and medium-sized enterprises (SMEs) the financial tools they need to grow, filling a gap that traditional banks often overlook.
Early Steps in Finance
Salem’s career began in some of the world’s most respected financial institutions. He started at Ernst & Young, where he gained hands-on experience auditing companies and understanding financial compliance. His time there taught him the importance of accuracy, transparency, and strong financial governance.
He then moved to Goldman Sachs, focusing on complex trading activities. This experience gave him a deep understanding of how global financial markets operate. Later, at PwC, Salem worked on mergers and acquisitions, helping companies navigate complex deals. Each of these roles refined his ability to analyze business operations, assess risk, and make strategic financial decisions.
Before founding his own company, Salem joined Baraka, a fintech investment platform, as a Senior Business Analyst. There, he saw firsthand the challenges SMEs face when trying to access funding quickly. These experiences laid the foundation for what would become his mission: making financing easier and fairer for small businesses.
Education That Prepared Him
Salem studied at the University of Bath, focusing on finance, which gave him a strong understanding of how to evaluate businesses and investments. He also earned the Chartered Financial Analyst (CFA) designation, a globally recognized credential that demonstrates expertise in investment and financial analysis. Salem speaks English, Arabic, and French, a skill that allows him to communicate with diverse teams and investors across the Middle East and beyond.
Founding Erad
In 2022, Salem co-founded Erad with Faris Yaghmour, Abdulmalik Almeheini, and Youssef Said in Riyadh. They recognized a growing need: online businesses and SMEs struggled to access funding from traditional banks, slowing their growth. Erad’s solution was simple but innovative. The company uses technology to quickly analyze business data, including sales, advertisements, and banking information. This approach allows erad to approve loans within just two days, helping businesses get cash fast without giving up equity.
Erad focuses on Shariah-compliant financing, ensuring that its solutions are ethical and fair. The platform serves a wide range of sectors, including retail, e-commerce, food, and healthcare, reaching businesses that previously had little or no access to formal financing.
Achievements and Growth
Under Salem’s leadership, erad has achieved several notable milestones. In 2022, the company became the first Saudi fintech to join Y Combinator, a globally recognized startup accelerator. That same year, Salem raised $2.4 million in pre-seed funding from investors including Nuwa Capital, Khwarizmi Ventures, and VentureSouq.
In 2025, erad raised $16 million in a pre-Series A round, supported by Y Combinator, Nuwa Capital, Khwarizmi Ventures, and Aljazira Capital. Later that year, the company secured $33 million in debt financing led by Stride Ventures. These investments have allowed erad to provide over $50 million in loans to hundreds of SMEs, with funding requests totaling more than $532 million. Salem’s goal is to eventually help close the $250 billion SME credit gap in the Gulf region.
Commitment to SMEs
Salem is passionate about helping businesses that often go unnoticed by banks. More than half of erad’s customers are receiving loans for the first time. By providing fast, reliable, and ethical financing, he is enabling SMEs to grow, create jobs, and contribute to economic development.
The company also partners with platforms like Shopify to streamline financing for online sellers. Through his work, Salem supports business growth and encourages innovation in the regional fintech ecosystem.
Looking Ahead
Based in Riyadh, Salem remains focused on expanding erad’s reach. He plans to grow the team, introduce new financial products, and extend funding to more SMEs in Saudi Arabia and the UAE. Salem envisions a future where small businesses have the financial support they need to thrive, and where fintech plays a central role in building a more inclusive economy.
Driving Change
Salem Abu-Hammour’s journey illustrates the impact that thoughtful, innovative leadership can have on the business community. From his early experiences at Ernst & Young, Goldman Sachs, and PwC to building erad into a leading fintech platform, he has consistently focused on solving real-world problems for SMEs. Through his work, Salem has demonstrated that finance can be accessible, ethical, and transformative, positioning erad as a key contributor to the growth of small businesses across the Middle East.
