Fintech company Flow48 has raised $69 million in Series A funding to expand its SME lending platform into Saudi Arabia. The round, which combines debt and equity investments, was led by Breega and supported by investors such as 212, Speedinvest, and Daphni. The funding will enable Flow48 to extend its revenue-based financing solutions to SMEs in the Middle East and Africa, specifically targeting Saudi Arabia’s underdeveloped SME ecosystem.
Flow48 uses AI-driven tools and advanced data analytics to offer flexible, fast access to capital for small and medium-sized enterprises without requiring equity dilution or traditional collateral. The company integrates various financial data sources to assess business performance and tailor financing options. The company plans to improve its platform with new features and enhanced risk assessment tools to provide even more tailored solutions for businesses.
Idriss Al Rifai, CEO and Co-Founder of Flow48, emphasized the importance of supporting SMEs, which create the majority of jobs and contribute significantly to GDP. Breega’s CEO Ben Marrel expressed pride in supporting Flow48’s mission to drive financial inclusion and reshape SME financing in the GCC region.
