- Flow48 raises USD 69M in Series A funding aiming to expand SME lending across emerging markets.
- The company aims to expand in South Africa, UAE, and Saudi Arabia while enhancing its platform with new financial solutions.
- Flow48 aims to centralize SME data insights, improve risk-based lending, and support economic diversification beyond oil, gas, and real estate.
Flow48
What is the deal? Flow48, a fintech company focusing on SME lending across emerging markets, closed a USD 69M Series A Funding round.
The round is a combination of debt and equity led by Breega and 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and Plus VC.
Ben Marrel, CEO & Founding Partner at Breega, said ” Their innovative approach to SME financing is reshaping the lending landscape in the GCC, unlocking capital for
businesses that are the backbone of the region’s economy.”
What will they do with the funds? With the funding, Flow48 aims to redefine access to capital for SMEs across MENA. It also aims to expand its existing market position in South Africa and the UAE. It also aims to expand into the Saudi Arabian SME ecosystem. Furthermore, the company aims to add new features to enhance its platform’s capabilities. Additionally , it aims to leverage alternative data sources and advanced risk assessment tools to deliver tailored financial solutions to SMEs.
“SMEs are the backbone of every economy. They create 90% of jobs and contribute to 50% of GDP, yet they remain under-supported. We’re deeply committed to bridging this gap and fostering sustainable growth.” said Idriss Al Rifai, CEO & Co- Founder of Flow48
Beyond Lending
More than just financing Flow48 aims to go beyond lending by centralizing critical data insights in a region where SME operational data is fragmented. Additionally, the fintech company collects and analyzes data related to payments, operational behaviors and sector-specific performance. This is because it is aiming to build a foundation for more informed decision making and risk-based lending.
Why does this matter? Flow48 aims to empower SMEs to drive economic growth in alignment with government goals to diversify beyond oil, gas and real estate. The company also aims to partner traditional financial institutions and fintechs to distribute SME lending solutions.
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