UAE fintech start-up Flow48 lands $25m pre-Series A funding
UAE-based fintech start-up Flow48, which provides SMEs with access to revenue-based financing, has secured $25 million in a pre-Series A funding round.
Flow48 raises $25m pre-Series A funding
Comprising a mixture of equity and debt funding, the round featured participation from Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, TLG and a number of angel investors.
Founded in 2022 by Idriss Al Rifai, Flow48 provides upfront financing to SMEs in the UAE. The firm’s platform integrates with enterprise resource planning (ERP) providers, payment gateways and e-commerce platforms and leverages data from a number of sources to “offer a more precise and efficient” credit assessment via its proprietary risk engine.
With the new funding, Flow48 is looking to expand across borders and has its sights set on building a presence in South Africa – describing its SME lending market as “robust” and supported by an “advanced fintech ecosystem”.
“This move aligns with the company’s commitment to data-driven, real-time lending solutions and its ambition to empower SMEs across emerging markets globally,” Flow48 states. “Going into South Africa is not just geographical but a deliberate step to integrate into thriving fintech ecosystems.”
The company also aims to focus on ESG principles by helping underrepresented segments within the SME sector, including prioritising funding SMEs owned by women and minorities and those that drive a positive environmental impact.
“We believe that if the gap in financing exists for everyone and every industry, the hurdle is even higher if you are a woman or from a minority background,” says Al Rifai. “What we offer can be vital for these small business owners.”
