FlapKap, an Egyptian e-commerce startup, has raised US$1.2 million in its most recent round of funding to grow into new countries and develop its technology.
A15, an Egypt-based early-stage venture capital business and one of the region’s most prominent backers of early-stage start-ups, led the round. A15 is a top MENA venture capital firm and one of the region’s most prominent backers of early-stage start-ups.
FlapKap is a fintech firm situated in the Middle East and North Africa that is changing the way e-commerce and SaaS businesses in the region grow.
The startup provides artificial intelligence-based analytics to organizations to help them improve their ad spending and profitability.
“We are ecstatic to announce our debut and fundraise, and to have the support of such a prestigious investor as A15 – one of the leading venture capital firms in the MENA area,” said Ahmad Coucha, FlapKap’s co-founder and CEO.
Because of Covid’s accelerated adoption of online solutions in the region, the business expects the e-commerce market to grow quickly.
FlapKap provides its merchants flexible payment terms after assisting them in reaching their growth potential.
This allows them to grow sustainably without having to worry about immediate cash limitations.
FlapKap is currently available in the United Arab Emirates and Egypt, and will shortly expand to Saudi Arabia. The company also expects to expand across MEA and acquire merchants quickly.
Read more on Tech Gist Africa:
Super app for Egyptian financial services Lucky has secured a $25 million Series A round of funding
Naqla, an Egyptian logistics startup, has raised $10.5 million in a pre-Series A funding round.
Freterium, a Moroccan logistics startup, raises $4 million in a seed round.
