Flow48, a fintech company headquartered in UAE, has successfully closed a US$69 million Series A funding round.
The investment, a mix of debt and equity, was led by Breega and included participation from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and Plus VC, among others.
With this latest funding, the company aims to further expand its presence in its primary markets while replicating its solutions in Saudi Arabia, the largest economy in MENA, which has a sizeable yet underdeveloped SME sector.
Flow48 will also continue enhancing its platform by integrating alternative data sources and advanced risk assessment tools to offer more tailored financial solutions.
“We’ve seen tremendous progress in the SME lending landscape, and this additional funding allows us to enhance our services even further,”
said Idriss Al Rifai, CEO & Co-Founder of Flow48.
“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.”
Beyond lending, Flow48 is consolidating crucial data insights in a region where SME operational data is often fragmented.
By aggregating information on payments, operational behaviours, and sector-specific performance, the company is developing a robust foundation for risk-based lending and smarter decision-making.
Aligned with government efforts to diversify economies beyond oil, gas, and real estate, Flow48 is playing a key role in enabling SMEs to drive economic transformation.
Traditional financial institutions and fintech firms have also expressed interest in partnering with Flow48 to expand SME lending solutions, reinforcing the company’s position as a leader in the sector.
“The SME lending space is seeing rapid growth across the region, with recent capital raises demonstrating the sector’s enormous potential,”
said Al Rifai.
“This is a tide that raises all boats. Every success in this space benefits the sector as a whole, and we’re thrilled to contribute to this momentum while working to be the leader in the region.”
Flow48 expressed gratitude for the support of its investors, particularly Breega.
“Having knowledgeable investors on board who bring not only capital but also deep expertise is critical to achieving our vision of becoming the leading SME lender across the region,”
added Al Rifai.
Previously, Flow48 secured a US$25 million in pre-Series A funding in November 2023.
Featured image credit: edited from freepik
