UAE-based fintech start-up Flow48, specializing in revenue-based financing for SMEs, has successfully secured $25 million in a pre-Series A funding round. The round, comprising both equity and debt funding, saw participation from investors such as Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, TLG, and several angel investors.
Established in 2022 by Idriss Al Rifai, Flow48 offers upfront financing to SMEs in the UAE. The platform seamlessly integrates with enterprise resource planning (ERP) providers, payment gateways, and e-commerce platforms. Utilizing data from multiple sources, it employs a proprietary risk engine to provide a more precise and efficient credit assessment.
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With the infusion of new funds, Flow48 has set its sights on global expansion, with a specific focus on building a presence in South Africa. The company views the South African SME lending market as robust, supported by an advanced fintech ecosystem. This expansion aligns with Flow48’s commitment to data-driven, real-time lending solutions and its overarching ambition to empower SMEs globally, particularly in emerging markets.
In addition to geographical expansion, Flow48 aims to emphasize Environmental, Social, and Governance (ESG) principles. The company is dedicated to supporting underrepresented segments within the SME sector, prioritizing funding for SMEs owned by women and minorities, along with those contributing to positive environmental impacts.
“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,” states Al Rifai. “What we offer can be vital for these small business owners.”