Flow48, the United Arab Emirates-based financial technology company focused on revenue-based financing for small and medium-sized enterprises, announced on 24 February 2025 that it had closed a $69 million Series A funding round. The round combined debt and equity instruments and was led by Breega, the Paris-based venture capital firm. Co-investors in the round included 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures and Plus VC.
In revenue-based financing, repayments are structured as a proportion of a borrower's ongoing revenues rather than as fixed monthly instalments.
EXPANSION INTO SAUDI ARABIA AND SOUTH AFRICA
Flow48 intends to use the Series A proceeds to deepen its operations in the UAE and expand into Saudi Arabia. The company already operates in South Africa.
Prior to the Series A, Flow48 raised a $25 million pre-Series A round in November 2023, capital raised to scale its UAE business and expand into South Africa.
FOUNDING TEAM
Flow48 was founded in 2022 by chief executive Idriss Al Rifai, previously the founder of the logistics start-up Fetchr.