Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
UAE-based fintech Flow48 raises $25m to expand revenue-based financing in MENA SME space

UAE-based fintech Flow48 raises $25m to expand revenue-based financing in MENA SME space

CointimeCointime2023/12/01 17:45
By:Cointime

Flow48, a UAE-based fintech, has raised $25 million in Pre-Series A funding with the aim of introducing revenue-based financing (RBF) to the SME space in the MENA region. The round includes equity and debt, and investors include 212 VC, Speedinvest, Daphni, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, TLG, and angel investors such as Scott Sandell from NEA. Founder Idriss Al Rifai believes that his experience of solving 'last mile' issues in the Middle East will be useful in the RBF arena, as the level of information and data in the region is different from that in the US and Europe. The MENA region is projected to grow by 5.4% in 2022, and the e-commerce market in Saudi Arabia, UAE, and Egypt is expected to grow by over 50% to $33.3 billion in the next three years, according to Bain.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Ethereum Foundation Launches Trillion Dollar Security Initiative to Strengthen Network

The Ethereum Foundation has launched a “Trillion Dollar Security Initiative” to enhance the security and resilience of the Ethereum blockchain. This program aims to protect the network, which supports a wide range of decentralized finance applications, NFTs, and smart contracts.

DeFi Planet2025/05/15 19:55
Ethereum Foundation Launches Trillion Dollar Security Initiative to Strengthen Network

MetaMask Token Launch Remains Uncertain, Says Co-Founder Dan Finlay

MetaMask is still considering the launch of a native token, but no definitive plans have been made yet. Dan Finlay, MetaMask’s co-founder, described the possibility of a token as a “maybe” during an interview on The Block’s “Crypto Beat” podcast on May 14, 2025.

DeFi Planet2025/05/15 19:55
MetaMask Token Launch Remains Uncertain, Says Co-Founder Dan Finlay

Is the XRP price rally over for now?

Cointelegraph2025/05/15 19:11
Is the XRP price rally over for now?