UAE-based fintech Flow48 raises $25m to expand revenue-based financing in MENA SME space
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.
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.
You may also like
VanEck’s Matthew Sigel Defends Ethereum’s Strong Utility Despite Bearish Market
![](https://img.bitgetimg.com/multiLang/image/social/e201343e99422f1587dcca6032544c281725741543205.jpg)
How Solana is Surpassing Ethereum in Blockchain Performance
![](https://img.bitgetimg.com/multiLang/image/social/19c85f4faba5949f3815555cb0a7c7711725741542820.jpg)
Debunking Bitcoin Myths: Separating Fact from Fiction in Cryptocurrency
![](https://img.bitgetimg.com/multiLang/image/social/946e527ab045281260662008d4e7ed021725741542403.jpg)
Fundstrat Analyst Predicts End of Nvidia Stock Decline, Hints at Crypto Market Recovery
![](https://img.bitgetimg.com/multiLang/image/social/919327f5a58cc6a19cd093f007645d3d1725741541939.jpg)