- Funding Success: UAE-based fintech start-up Flow48 secures $25 million in a pre-Series A funding round.
- Investors: The funding round involves a mix of equity and debt funding, with participation from Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, TLG, and several angel investors.
- Company Background: Founded in 2022 by Idriss Al Rifai, Flow48 offers revenue-based financing to SMEs in the UAE, integrating with ERP providers, payment gateways, and e-commerce platforms for precise credit assessments.
- Expansion Plans: With the new funding, Flow48 aims to expand globally, focusing on building a presence in South Africa due to its “robust” SME lending market and advanced fintech ecosystem.
- Data-Driven Approach: The company emphasizes data-driven, real-time lending solutions and intends to integrate into thriving fintech ecosystems beyond geographical expansion.
- ESG Focus: Flow48 expresses commitment to Environmental, Social, and Governance (ESG) principles by prioritizing underrepresented segments, including SMEs owned by women and minorities, aiming to drive positive environmental impacts.
- Empowering Small Business Owners: Flow48’s mission is to address financing gaps for all industries, with a specific focus on supporting women and minority-owned small businesses.
