Manama – Sharikat Mubasher: Bahrain-based fintech Flooss managed to secure a $22 million credit facility structured by Abu Dhabi investment firm Shorooq, in what is being described as the first transaction of its kind in the Kingdom.
According to a recent press release, the funding will support the expansion of Flooss’s Sharia-compliant consumer financing products as digital lending gains momentum across the region.
The deal reflects growing institutional confidence in Flooss’s technology-led underwriting model and credit discipline. Since its launch, the platform has issued more than $100 million in financing, ranks first in Bahrain’s finance app category, and has surpassed 500,000 downloads.
Licensed by the Central Bank of Bahrain, Flooss focuses on serving consumers often overlooked by traditional banks. Its proprietary AI-driven credit engine uses alternative data, including open banking and handset insights, to deliver instant Sharia-compliant cash financing of up to 2,500 Bahraini dinars, alongside BNPL and device-financing services.
Shorooq said the facility aligns with its strategy to support scalable, regulated fintechs across the GCC. The capital will be deployed to grow Flooss’s core cash financing offering, with Sharia compliance certified by Dar Al Marajaa Al Shar’ia.
