Dubai – Sharikat Mubasher: UAE-based Fintech firm Flow48 announced raising $69 million in a Series A funding round, combining debt and equity, to scale its SME lending operations across emerging markets.
Led by Breega, the round also saw participation from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and Plus VC, among others, according to a recent press release.
The funding will support Flow48’s expansion into Saudi Arabia, strengthen its market presence in South Africa and the UAE, and enhance its platform with new products and advanced risk assessment tools.
Idriss Al Rifai, CEO & Co-Founder of Flow48 said: “We’ve seen tremendous progress in the SME lending landscape, and this additional funding allows us to enhance our services even further.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.”
Flow48 also aggregates SME operational data to streamline lending decisions and align them with regional economic diversification goals. The company is attracting interest from financial institutions and fintechs and is seeking partnerships to distribute its lending solutions.
With this funding, Flow48 aims to cement its role as a key player in SME lending across the Middle East and Africa.
