- Dubai-based fintech startup Flow48 raised $25 million in pre-Series A funding to expand SME lending.
- The funding includes top investors Speedinvest, Daphni, 212, and Endeavor Catalyst.
- Flow48 emphasizes serving minority and women-led SMEs with sustainable business models.
UAE-based fintech startup Flow48 has raised $25 million in a pre-Series A funding round to further its mission of expanding access to financing for small and medium-sized enterprises (SMEs). The funding mix of equity and debt comes from major investors like Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, and TLG.
Flow48 has built an innovative platform that integrates with ERP systems, payment gateways, and e-commerce platforms to offer real-time financing options to SMEs. By utilizing alternative data sources and proprietary risk assessment models, Flow48 can provide fast and efficient credit evaluation to underserved SMEs.
A key aspect of Flow48’s business model is an emphasis on supporting minority and women-led SMEs, as well as environmentally sustainable companies. This aligns with their goal of driving financial inclusion and positive social impact alongside business growth.
The new funding will support Flow48’s expansion into South Africa, where they aim to replicate their success in the UAE’s burgeoning fintech ecosystem. Their move aligns with an ambition to take their data-driven lending solutions to SMEs in high-potential emerging markets globally.
Investors like Daphni and 212 praised Flow48’s innovative approach and seasoned leadership team. Flow48 also drew continued support from early backers like Endeavor Catalyst.
As Flow48 scales up operations, they are positioned to transform SME lending practices in the Middle East, Africa, and beyond. Their emphasis on financial inclusion and sustainability makes them a pioneer in socially conscious fintech.
Source: Wamda
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Last Updated on November 29, 2023 by Safiya K
