Flow48, a Dubai, UAE-based fintech improving SME lending across emerging markets, raised $69M in Series A funding.
The round was led by Breega and with participation from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and Plus VC, among others.
The company intends to use the funds to further expand in its two key markets, and replicate its solution in Saudi Arabia, and continue to add new features to enhance its platform capabilities, leveraging alternative data sources and advanced risk assessment tools to deliver tailored financial solutions to SMEs.
Founded in 2022 and led by Idriss Al Rifai, CEO, Flow48 is improving SME financing by building a capital infrastructure that transforms future revenues into immediate working capital. Operating across the GCC and Africa (UAE, South Africa, and now Saudi Arabia), it goes beyond lending, integrating a data-driven ecosystem that enhances underwriting capabilities for both SMEs and financial institutions.
Flow48 already achieved key milestones, including:
- Securing a large and scalable debt facility from sophisticated financial institutions.
- Strengthening its market presence in South Africa while cementing its position in the UAE.
- Introduce new products for SMEs and expand into Saudi Arabia and other potential key markets.
FinSMEs
25/02/2025