Revenue-based financing company Flow48, a venture founded by Fetchr's original creator, successfully secures $69 million in Series A funding.
UAE-based fintech Flow48 has raised $69 million in a Series A funding round, led by notable investor Breega. This comes after the company's successful pre-Series A round in November 2023.
The funding will be used to expand Flow48's operations in the UAE, launch in Saudi Arabia, and introduce new financial products for Small and Medium Enterprises (SMEs). The company plans to enhance its platform capabilities with alternative data sources and advanced risk assessment tools.
Idriss Al Rifai, co-founder and CEO of Flow48, is committed to bridging the gap in SME financing and fostering sustainable growth. Al Rifai previously served as CEO of Borzo, an Amsterdam-based same-day delivery startup focused on emerging markets, and Chief Strategy and Data Officer at Glovo.
Flow48's platform offers a fully digital onboarding process, with approvals and funding for eligible businesses in as little as 24 to 48 hours. To be eligible, businesses must have at least one year of trading history and at least $100,000 in annual revenues.
The funding round includes both debt and equity, but the breakdown remains undisclosed. Some of the same investors from the pre-Series A round also participated in the Series A round.
Flow48 offers revenue and invoice-based financing solutions to SMEs in the United Arab Emirates, South Africa, and now Saudi Arabia. The company can offer up to $20 million in funding to each business.
Other notable players in the SME financing space include Cairo-headquartered FlapKap and Saudi-based YC-backed Erad.
In addition to expanding its operations, Flow48 is preparing to introduce new financial products. These include capital expenditure (CapEx) financing solutions designed to help SMEs fund longer-term growth assets. The company is also developing Sharia-compliant financing products to cater to the demand for ethical and interest-free financial services.
The early acquisition of licensing from Egypt’s Financial Regulatory Authority (FRA) has been a crucial strategic move for Flow48. This move reinforces its credibility and signaling long-term commitment, governance, and regulatory compliance to both investors and SMEs in its market.
In other related news, QIA and UAE's MGX are reportedly in advanced talks to back Anthropic at a $170 billion valuation. Meanwhile, Saudi's Sawt has raised $1 million pre-seed to automate call centers with Arabic AI agents, and Saudi foodtech Calo has raised $39 million in a Series B extension for AI push and global expansion. Foodics reported $6 billion GMV and 29% revenue growth in H1 2025, attributed to surging fintech adoption.
Flow48 plans to utilize the investment to advance its platform with alternative data sources and risk assessment tools, also aiming to introduce new financial products such as CapEx financing solutions and Sharia-compliant financing for SMEs. The company aspires to expand its operations in Saudi Arabia and further bridge the gap in SME financing, offering revenue and invoice-based financing solutions using technology.
