Emirati Fintech Flow48 Raises $25 Million Pre-Series A Round

UAE-based fintech startup Flow48 has secured $25 million in pre-Series A funding, combining equity and debt from various investors, including Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, TLG, and NEA's Scott Sandell.

Launched in 2022 by Idriss Al Rifai, Flow48 specialises in offering upfront financing to SMEs, transforming future revenues into immediate capital under flexible terms to facilitate their growth. The latest funding will expedite the company's expansion plans, with a focus on entering the South African market.

“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," Al Rifai tells StartupScene. “What we offer can be vital for these small business owners. We are contributing to building a more equitable economic environment.

Flow48, founded on the principle of addressing SMEs' working capital financing challenges, has developed a platform known for its real-time functionality and seamless integration with major ERP providers, payment gateways and e-commerce platforms.

The startup stands out in SME lending by enhancing its proprietary risk engine and utilising diverse data sources for a more precise and efficient credit assessment process. Flow48 emphasises environmental, social, and governance (ESG) principles, prioritising funding for underrepresented segments, including women and minorities, contributing to a more inclusive and diverse business environment.