Fintech company, Flow48 has successfully closed its US$69 million Series A funding round, which is a combination of debt and equity, led by Breega and has seen further investments from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and +VC, among others. This milestone marks a major step forward in the company’s mission to redefine access to capital for underserved SMEs across the Middle East and Africa.
“It’s an honor to lead Flow48’s Series A. The team’s ability to consistently deliver on their ambitious roadmap is remarkable, demonstrating both vision and execution,” said Ben Marrel, CEO and Founding Partner at Breega. “Their innovative approach to SME financing is reshaping the lending landscape in the Gulf Cooperation Council (GCC), unlocking capital for businesses that are the backbone of the region’s economy. We are proud to support Flow48 in scaling their impact and driving financial inclusion across the market.”
With this new funding, Flow48 is set to further expand in its two key markets, and replicate its solution in Saudi Arabia, the largest economy in the MENA region, with a sizable yet underdeveloped SME ecosystem. The company will also continue to add new features to enhance its platform capabilities, leveraging alternative data sources and advanced risk assessment tools to deliver tailored financial solutions to SMEs.
“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 and 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.”
Co-founded in 2022, Flow48 is redefining SME financing by building a seamless capital infrastructure that transforms future revenues into immediate working capital. Operating across the GCC and Africa, Flow48 goes beyond lending, integrating a data-driven ecosystem that enhances underwriting capabilities for SMEs and financial institutions. By aggregating data on payments, operational behaviors, and sector-specific performance, Flow48 is building a robust foundation for smarter decision-making and risk-based lending.
Aligned with government (where they hold their operations) goals to diversify regional economies beyond oil, gas, and real estate, Flow48 is empowering SMEs to drive economic transformation. The company has also seen significant interest from traditional financial institutions and fintechs seeking partnerships to distribute SME lending solutions, underscoring Flow48’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 Idriss. “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.”
The company is deeply grateful for the support of its investors, including Breega, who led this round. “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 Idriss.
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