• FlapKap has raised USD 34 million in a pre-Series A funding round, led by BECO Capital, bringing its total funding to USD 37.6 million.
• The company aims to bridge the USD 180 billion SME financing gap in the MENA region, doubling loan originations and disbursements in the past two years.
• The new funding will enhance FlapKap’s technology infrastructure and support its expansion into the UAE, Egypt, and the broader GCC region.

FlapKap, an Egyptian fintech platform, has announced raising USD 34 million in a pre-Series A funding round, pushing its total funding to USD 37.6 million. BECO Capital led the round, with new investments from Pact VC and participation from A15, Nclude, QED Investors, and debt financing from Channel Capital.

This latest funding comes nearly two years after FlapKap secured USD 3.6 million in seed funding. The company aims to bridge the estimated USD 180 billion SME financing gap in the MENA region, according to the International Finance Corporation.

FlapKap has doubled its quarterly loan originations and disbursements over the past two years, building a strong merchant network across Egypt and the UAE. Part of the new funding will be directed toward upgrading its technology infrastructure and launching trade finance products tailored to B2B businesses.

Founded in 2022 by Ahmad Coucha, Khaled Nassef, Sherif Bichara, and Kunal Harisinghani, FlapKap offers revenue-based and embedded financing solutions to support SMEs in sectors like eCommerce, retail, and restaurants. The platform enables these businesses to scale inventory and digital advertising with instant funding and flexible repayment options.

FlapKap’s CEO, Ahmad Coucha, highlighted that the growth in data has made SME support easier than ever. He added that the fresh investment will fuel the company’s growth in Egypt and the UAE, while also supporting its expansion into the wider GCC.

FlapKap employs a data-driven approach, using unconventional data sources such as eCommerce platforms, social media, and payment gateways to assess loan applicants. SMEs, which represent up to 90% of businesses in most MENA countries, often face challenges in securing financial support for growth.