Latham & Watkins advises on debt financings for BRKZ and erad

Latham & Watkins has advised on a debt financing to BRKZ, a Riyadh-based B2B platform that connects suppliers and contractors in the construction industry, on its USD30 million debt financing from Indian venture capital firm Stride Ventures. The funds will be used to expand BRKZ’s financing enablement capabilities, providing contractors and factories across Saudi Arabia with more flexible payment options and stronger cashflow support. The Latham team was led by Dubai partners Omar Maayeh and Eyad Latif, with associate Mustafa Darwich and London associate Saachi Bains.

The firm also advised on a debt financing to erad, a Saudi-based alternative financing platform for SME’s, on its USD33 million debt financing. The round was led by Indian venture capital firm Stride Ventures, with participation from other investors. The funds will be used to support erad’s operations in Saudi Arabia and the UAE, scale operations, and meet rising demand from SME’s across sectors such as retail, F&B, healthcare, and e-commerce. The Latham team was led by Dubai partners Omar Maayeh and Eyad Latif, with associate Mustafa Darwich and London associate Saachi Bains.