FlapKap Accelerates Growth with $34 Million Funding to Support SMEs across MENA and GCC

FlapKap, a fintech platform founded in Egypt and now based in Abu Dhabi, has raised $34 million in a pre-Series A funding round, boosting its total funding to $37.6 million. The latest round of funding, which includes both debt and equity financing, was led by BECO Capital and saw participation from new investors such as Pact VC, along with existing backers A15, Nclude, QED Investors, and debt financing from Channel Capital.

The newly secured capital will support FlapKap’s plans to expand its financing services for small and medium-sized enterprises (SMEs) across the Middle East, North Africa (MENA), and Gulf Cooperation Council (GCC) regions. The fintech company will also invest in its technology infrastructure to introduce trade finance products tailored to B2B businesses.

Launched in 2022 by Ahmad Coucha, Khaled Nassef, Sherif Bichara, and Kunal Harisinghani, FlapKap offers revenue-based and embedded financing solutions to help SMEs—particularly in the eCommerce, retail, and restaurant sectors—scale their inventory and digital advertising with instant funding and flexible repayment options. By simplifying the loan approval process, FlapKap aims to overcome the financial hurdles faced by SMEs, many of which struggle to access traditional bank loans or venture capital.

Source: Osamu Ekhator / TechPoint Africa