FlapKap, a tech-enabled revenue-based financing platform in the MENA region, raised $3.6m in a seed round. The round included participation from Bolt by QED, Nclude, Outliers, and A15.
With the new funding, FlapKap plans to increase its capacity in helping more e-commerce businesses in the MENA region scale and maximize their growth potential.
The startup aims to solidify its presence in Saudi Arabia, the UAE, and Egypt by offering e-commerce businesses the ability to scale their inventory and digital ads now, while flexibly paying later.
FlapKap was founded in 2022 by Ahmad Coucha and Khaled Nassef, with founding team Sherif Bichara and Adel Hodroj, the startup enables e-commerce businesses to scale and grow by targeting businesses that have traditionally had limited access to bank or venture capital financing.
“As we develop our platform and expand our capacity to enable even more e-commerce platforms to attain their full growth potential, we’re excited to be joined by prominent global investors with deep knowledge and extensive expertise in the revenue-based financing space, having previously invested in some of our international peers. Our rapid growth within a short period of time demonstrates the massive unmet demand in our region and, being founders ourselves, we take huge pride in being able to offer this founder-friendly financing to founders and entrepreneurs all across the region,” Ahmad Coucha, FlapKap CEO and Cofounder said.
It offers insights and analytics to e-commerce businesses to help them accelerate growth and swift access to working capital financing for the deployment of inventory and digital marketing spending.
FlapKap has so far worked with e-commerce firms, such as Dresscode, Palma, Tam’s Shoemaker, and Raw African, amongst others.
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