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UAE-based fintech Flow48 has raised $69 million in a series A funding round led by Breega, with participation from several investors including 212 and Speedinvest. Founded in 2022 by Idriss Al Rifai, the company provides upfront financing to SMEs by converting future revenues into immediate capital. The new funding will facilitate Flow48's expansion in the UAE and Saudi Arabia, addressing the underdeveloped SME financing landscape in the region.
Flow48, a UAE-based fintech, has raised $69 million in a Series A funding round led by Breega, with participation from several investors. The funds will be used to expand SME lending in MENA, particularly in Saudi Arabia, while enhancing their platform with advanced risk assessment tools and alternative data sources. CEO Idriss Al Rifai emphasized the importance of supporting SMEs, which are vital for job creation and economic growth in the region.
Flow48, a UAE-based fintech founded by Idriss Al Rifai, has raised $69 million in a Series A funding round to enhance its revenue-based financing solutions for SMEs. The company, which previously secured $25 million in a pre-Series A round, aims to expand into Saudi Arabia and improve its platform capabilities. With a focus on supporting under-served businesses, Flow48 can provide up to $20 million in funding to eligible companies facing challenges with traditional financing options.
Flow48 has secured USD 69M in Series A funding to enhance SME lending across emerging markets, focusing on expansion into Saudi Arabia, South Africa, and the UAE. The fintech aims to centralize SME data insights and improve risk-based lending, supporting economic diversification beyond traditional sectors. CEO Idriss Al Rifai emphasizes the importance of empowering SMEs, which contribute significantly to job creation and GDP.
Idriss Al Rifai
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flow48 secures 69 million in series a funding for sme financing expansion
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