UAE fintech Flow48 secures $25M in pre-Series A funding

Flow48, a UAE-based fintech startup, has raised $25 million in pre-Series A funding round, marking a significant milestone in its mission to expand SME lending, according to Wamda.

The round, which includes equity and debt investors, also saw participation from investors including Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, and TLG.

The startup plans to use the funds to capitalise on emerging opportunities in the international financial services market, accelerating its expansion into South Africa.

"What Flow48 is bringing to the table is not just innovative; it's essential for SME growth in the region's economic landscape. The team is on track to become a full-service fintech solution for SMEs and expand their offerings to insurance, payments, and other financial services," remarked Enrique Martinez Hausmann, Principal at Speedinvest. 

Flow48, founded by Idriss Al Rifai, is a state-of-the-art platform designed to help SMEs secure working capital financing. It integrates with major ERP providers, payment gateways, and e-commerce platforms, offering a more precise and efficient credit assessment process. Its proprietary risk engine and data sources set new standards in SME lending.

It focuses on funding SMEs owned by minorities and women, promoting inclusivity and diversity in the business environment.

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The company is also partnering with SMEs promoting environmental sustainability, focusing on green energy and sustainable practices, including women and minority migrant-led businesses.

Flow48, a B2B lending company, is expanding into South Africa, leveraging its strong SME lending market and advanced fintech ecosystem. The move aligns with the company's commitment to data-driven, real-time lending solutions, aiming to empower SMEs globally and integrate into thriving fintech ecosystems.