UAE-based fintech company Flow48 has secured $69 million in a Series A funding round, combining debt and equity, to enhance its SME financing solutions across emerging markets.
The round was led by Paris-based venture capital firm Breega, with participation from investors including 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and Plus VC.
Founded in 2022 by CEO Idriss Al Rifai, Flow48 specializes in revenue-based financing, offering small and medium-sized enterprises (SMEs) upfront capital based on future revenues and invoices. The platform utilizes advanced data analytics and AI-driven risk assessment tools to provide tailored financial solutions without requiring equity dilution or traditional collateral.
The newly acquired funds are earmarked for expanding Flow48’s presence in key markets, particularly Saudi Arabia and the UAE, and enhancing its platform capabilities. The company aims to integrate alternative data sources and advanced risk assessment tools to refine its credit solutions for SMEs, a sector that remains largely underserved in the region.
Flow48 has been scaling its operations across the Middle East and North Africa (MENA) region, securing a scalable debt facility from financial institutions and strengthening its presence in South Africa. The company plans to leverage alternative data sources and advanced risk assessment tools to refine its credit solutions for SMEs, aiming to bridge the funding gap for small businesses and foster sustainable growth.
Saudi Arabia, the largest economy in the MENA region, is a focal point of Flow48’s expansion strategy, given its sizable but underdeveloped SME ecosystem. The company aims to leverage alternative data sources and advanced risk assessment tools to refine its credit solutions for SMEs, aligning with regional government efforts to diversify economies beyond oil and real estate.
The fintech sector in MENA has been experiencing significant growth, with SME lending attracting substantial investor interest. Flow48 has positioned itself as a key player in addressing the financing gap for small businesses, aligning with regional government efforts to diversify economies beyond oil and real estate.
With this substantial investment, Flow48 is poised to solidify its leadership in the SME financing sector, driving both economic growth and financial inclusion across emerging markets.
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