Flow 48 Celebrates Successful Second Funding Round, Aims To Tackle Fintech Challenges In Emerging Markets
Flow 48 Celebrates Successful Second Funding Round, Aims To Tackle Fintech Challenges In Emerging Markets
11/09/23, 6:31 PM
Location
united statesIndustry
financial services
Pioneering fintech company, Flow 48 is pleased to announce the successful completion of its second funding round. This round of funding will provide the company with the capital it needs to address the challenges of fintech innovation, particularly in the Middle East and other developing markets. The company's mission to empower small and medium-sized enterprises (SMEs) and bridge the gap between traditional banking systems and underserved businesses is gaining momentum.
Company Info
Location
united states
Additional Info
The move is savvy because there is a lot more beyond Revenue Based Financing that a MENA-focused fintech lending platform could do in the growing regional economy. Founder Idriss Al Rifai told me me that the company doesn’t have many competitors per se in its core markets, though it does “have similar companies in the US/ Europe such as Wayflier, Pipe.com or the likes of Uncapped or Silvr in France. ”He is therefore hoping Flow48 will be able to assemble a robust view of the the financial strength of its SME clients, and to that end the firm has already completed a pilot of its platform between this year and last. However, as we’ve seen in the US and Europe, it’s unlikely Flow48 will be the last company to launch such a product in the growing MENA region.