{"id":55608,"date":"2026-01-13T19:47:06","date_gmt":"2026-01-13T16:47:06","guid":{"rendered":"https:\/\/entarabi.com\/?p=55608"},"modified":"2026-01-13T19:55:55","modified_gmt":"2026-01-13T16:55:55","slug":"bahrain-based-floos-secures-22-million-financing-deal-led-by-shorooq-to-support-shariah-compliant-consumer-finance","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2026\/01\/bahrain-based-floos-secures-22-million-financing-deal-led-by-shorooq-to-support-shariah-compliant-consumer-finance\/","title":{"rendered":"Bahrain-Based Floos Secures $22 Million Financing Deal Led by Shorooq to Support Shariah-Compliant Consumer Finance"},"content":{"rendered":"<ul>\n<li dir=\"ltr\" style=\"text-align: left;\">Floos has announced securing $22 million in credit facilities to expand its Shariah-compliant consumer finance operations.<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\">The financing round was led by UAE-based investment firm Shorooq, which is regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).<\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"text-align: left;\">Floos Bahrain has secured a $22 million credit facility, structured and led by Shorooq, in a move that strengthens the growth of Shariah-compliant digital consumer finance in the Kingdom of Bahrain.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The platform leverages an AI-powered credit scoring engine to offer instant financing of up to BHD 2,500, alongside buy-now-pay-later (BNPL) solutions and device financing services.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The newly secured funding will be used to expand Floos\u2019 financing portfolio, launch new core products, and enhance the company\u2019s readiness for future regional expansion.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Supporting the Expansion of Shariah-Compliant Finance<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Floos, a Bahrain-based platform specializing in Shariah-compliant digital consumer finance, has obtained $22 million in asset-backed credit facilities structured by Shorooq, the Abu Dhabi\u2013based investment firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The funding is expected to support Floos\u2019 expansion plans and strengthen its ability to deliver instant, Shariah-compliant financing solutions that meet the needs of a rapidly growing base of digitally active consumers in Bahrain and the wider region.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The capital will also be allocated toward launching new core products on the Floos platform, most notably Shariah-compliant cash financing.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Floos is licensed by the Central Bank of Bahrain, and all of its products are Shariah-approved by Dar Al-Muraja\u2019a Al-Shar\u2019iya.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The transaction marks Bahrain\u2019s first private, asset-backed financing deal of its kind, reflecting strong institutional confidence in Floos\u2019 proprietary credit underwriting model and its ability to build a high-quality, scalable financing portfolio.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Floos has emerged as a leading player in Bahrain\u2019s consumer finance app market, surpassing 500,000 app downloads and exceeding $100 million in total financing disbursed to customers since launch.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Fawaz Ghazzal, Founder and CEO of Floos Group, said:<\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cOur mission is to bridge the credit gap by providing instant, Shariah-compliant financing solutions designed to be accessible to a broader segment of customers underserved by traditional financial institutions.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">Floos\u2019 competitive edge is driven by its advanced AI and machine learning\u2013based (AI\/ML) credit scoring engine, which utilizes open banking data and mobile usage data to assess customer segments typically excluded from traditional banking coverage.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">This technology enables the platform to offer instant financing of up to BHD 2,500, with funds deposited directly into beneficiaries\u2019 bank accounts, in addition to BNPL solutions and a dedicated device financing marketplace that has seen strong adoption in the local market.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Joe Baron, Investment Director at Shorooq, commented:<\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\n\u201cFloos represents a strong fintech model, successfully combining rapid growth with portfolio quality through a disciplined risk management approach&#8221;.<\/p>\n<\/blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">He Add:<\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">&#8220;Structuring the first financing deal of its kind in Bahrain underscores our commitment to supporting high-growth fintech companies in the Gulf and paving their path toward expansion into markets such as Saudi Arabia.\u201d<\/p>\n<\/blockquote>\n<h2 dir=\"ltr\" style=\"text-align: left;\">About Floos<\/h2>\n<p dir=\"ltr\" style=\"text-align: left;\">Floos Bahrain operates in the Shariah-compliant instant digital finance space, redefining access to credit for digitally active consumers across the GCC.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The company relies on an AI-powered credit scoring engine to deliver cash financing, BNPL services, and an integrated marketplace for electronic device financing.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">With more than 500,000 app downloads, Floos leads the finance app category in Bahrain, reflecting its commitment to responsible financing and technological innovation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Floos Bahrain has secured a $22 million credit facility, structured and led by Shorooq, in a move that strengthens the growth of Shariah-compliant digital consumer finance in the Kingdom of Bahrain.<\/p>\n","protected":false},"author":11,"featured_media":55603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810,8850],"tags":[11102,11101,5884,11100,6640],"class_list":["post-55608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-venture","tag-central-bank-of-bahrain","tag-fawaz-ghazzal","tag-flooss-en","tag-joe-baron","tag-shorooq"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/55608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=55608"}],"version-history":[{"count":1,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/55608\/revisions"}],"predecessor-version":[{"id":55609,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/55608\/revisions\/55609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/55603"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=55608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=55608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=55608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}