Jefferies Enters Saudi Private Credit Market with $125 Million Deal
Jefferies Financial Group is stepping into Saudi Arabia’s private credit sector, leading a $125 million financing round for local fintech Erad, Bloomberg reported.
The investment bank, alongside co-investor Channel Capital, is providing an asset-backed facility designed to expand Erad’s ability to lend to small- and medium-sized businesses across the kingdom.
The move places Jefferies among a growing group of Wall Street firms targeting private credit in Saudi Arabia and the Gulf region. Just two months ago, Saudi “buy now, pay later” unicorn Tamara secured an asset-backed line of up to $2.4 billion from financial institutions including Goldman Sachs and Citigroup, Bloomberg noted.
