UAE-based fintech startup Flow48 has recieved $25 million from Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, and TLG. This round will help to expand its offerings.
- Founded by Idriss Al Rifai in 2022, Flow48 enables SME growth by transforming future revenues into up-front capital under flexible terms with a focus on minority and women-led businesses. The startup is from UAE and now also based in London.
- The round saw participation from Vienna-based Speedinvest (that has backed London-based autone, Purpose, a German renewable energy startup, and Hamburg-based Resourcify, the waste management and recycling platform). Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, and TLG, as well as angel investors, also joined.
“What Flow48 is bringing to the table is not just innovative, it’s essential for SME growth in the region’s economic landscape. As we look ahead, the potential for Flow48 to expand beyond Revenue Based Financing is very exciting. The team is on track to become a full-service fintech solution for SMEs and expand their offerings to insurance, payments, and other financial services.”
Enrique Martinez Hausmann, Principal at Speedinvest, commented.
- Flow48 will use the investmnt to and expand its offerings to insurance, payments, and other financial services. Now, the startup is strategically venturing into South Africa.
