Flow48 Secures $25 Million Pre-Series A Funding, Revolutionizing SME Lending and Expanding Fintech Solutions Globally
Flow48, a fintech startup based in the UAE, has revealed securing $25 million in pre-Series A funding, marking a substantial leap in its mission to revolutionize SME lending. The investment, comprising a blend of equity and debt, involves prominent investors such as Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, TLG, alongside angel investors including Scott Sandell from NEA.
Enrique Martinez Hausmann, Principal at Speedinvest, emphasized Flow48’s significance in SME growth within the regional economic landscape. He foresees the potential for Flow48 to evolve beyond Revenue Based Financing, envisioning the team’s trajectory towards becoming a comprehensive fintech solution catering to insurance, payments, and various financial services.
Founded by Idriss Al Rifai, Flow48 addresses SMEs’ working capital challenges through a cutting-edge platform. Its real-time functionality seamlessly integrates with major ERP providers, payment gateways, and e-commerce platforms. By enhancing its proprietary risk engine and utilizing diverse data sources, Flow48 offers a more precise and efficient credit assessment process, setting new standards in SME lending.
A distinctive aspect of Flow48’s model lies in its commitment to ESG principles, specifically empowering underrepresented segments in the SME sector. Prioritizing funding for minority- and women-owned SMEs stands as a significant step towards fostering inclusivity and diversity in the business landscape. Al Rifai highlights their pivotal role in bridging the financing gap, particularly for women and minority-owned businesses, contributing to a more equitable economic environment.
Aligned with its broader mission, Flow48 engages with SMEs driving positive environmental impact. This includes support for green energy sectors and enterprises integrating sustainable practices into their models. Notably, their clientele proudly includes several women- and minority-led businesses.
Eyeing expansion, Flow48 strategically ventures into South Africa, attracted by its robust SME lending market and advanced fintech ecosystem. This move aligns with the company’s commitment to data-driven, real-time lending solutions, empowering SMEs across emerging markets globally.
Reflecting on this expansion, Shabir Vasram from Daphni stressed the transformative impact of Flow48’s approach in emerging markets, emphasizing the importance of a data-driven approach in regions with limited financing access.
Echoing this sentiment, Numan Numan, Founding Partner at 212, commended Flow48’s innovative approach and team, aligning perfectly with their values. He expressed enthusiasm about joining the alliance led by Flow48.
Flow48’s recent funding success and expansion plans underscore its dedication to redefining B2B lending, with a strong focus on ESG principles. Positioned to leverage emerging opportunities in the global financial services arena, Flow48 aims to drive impactful change for SMEs worldwide.
Allen Taylor, Managing Partner at Endeavor Catalyst, highlighted their support for tech founders like Idriss Al Rifai and their investment in Flow48, unlocking access to capital for millions of SMEs in the region.
