FlapKap Pockets $34 Million in Pre-Series A Round
This funding follows a $3.6 million seed round in 2022, bringing the company’s total funding to $37.6 million.
FlapKap, a fintech platform based in Abu Dhabi and founded in Egypt, has raised $34 million in a pre-Series A funding round. This funding follows a $3.6 million seed round in 2022, bringing the company’s total funding to $37.6 million.[1]
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The round was led by BECO Capital with notable contributions from Pact VC and follow-on investments from A15, Nclude, and QED Investors. Debt financing was provided by Channel Capital.
FlapKap plans to use the new funds to expand its SME financing services across the MENA and GCC regions. Part of the investment will also support the development of trade finance products for B2B businesses.
Founded in 2022 by Ahmad Coucha, Khaled Nassef, Sherif Bichara, and Kunal Harisinghani, FlapKap provides revenue-based and embedded financing solutions to help SMEs, particularly in e-commerce, retail, and restaurants, manage inventory and digital advertising with flexible repayment options.
The platform uses a data-driven approach and AI-powered models to streamline the loan approval process. It aims to address the $180 billion SME financing gap in the MENA region by automating and speeding up lending decisions.