Flow48 Raises $69M to Expand SME Lending in Saudi Arabia
Funding | Feb 25, 2025 | Zawya
Flow48, a fintech company dedicated to transforming SME lending across emerging markets, has successfully secured $69 million in a Series A funding round, combining both debt and equity. The round was led by Breega, with additional investments from various firms, including 212, Speedinvest, and others. This funding marks a significant step forward for Flow48, which aims to enhance its market presence in the Middle East and Africa, specifically expanding into Saudi Arabia. The company's innovative approach involves leveraging alternative data and advanced risk assessment tools to deliver tailored financial solutions to SMEs, a critical sector that supports 90% of jobs and contributes to 50% of GDP in these regions. Flow48 is also focused on building a data-driven ecosystem to support more informed decision-making and risk-based lending, aligning with regional governments’ goals to diversify their economies. Investors have expressed confidence in Flow48's potential to become the leading SME lender across the region, citing its solid execution and impactful approach to financing.
Sectors
- Fintech
- SME Financing
- Financial Services
Geography
- Middle East and North Africa (MENA) – Flow48's operations and expansion plans focus significantly on the MENA region, addressing SME lending needs in areas like the UAE and Saudi Arabia.
- Saudi Arabia – Part of Flow48's expansion strategy includes entering the Saudi Arabian market, with its sizable but underdeveloped SME ecosystem.
- South Africa – Flow48 is already present in South Africa, contributing to its growth and market presence in the broader African continent.
Industry
- Fintech – Flow48 operates in the fintech industry, focusing on leveraging technology to provide financial services like SME lending across emerging markets.
- SME Financing – The article highlights Flow48's involvement in SME financing, aiming to improve access to capital for small and medium enterprises in the MENA region.
- Financial Services – Flow48 is working with financial institutions to strengthen lending capabilities, aligning with broader trends in the financial services industry.
Financials
- $69 million – The total amount raised by Flow48 in their Series A funding round, combining debt and equity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Flow48 | Target company, Fintech firm | Company | A fintech company focused on transforming SME lending across emerging markets, expanding its operations in the MENA region. |
| Breega | Lead investor | Company | A venture capital firm leading the Series A funding round for Flow48, providing not only capital but also strategic expertise. |
| 212 | Investor | Company | A venture capital firm participating in Flow48's Series A funding round. |
| Speedinvest | Investor | Company | An early-stage venture capital firm investing in Flow48's recent funding round. |
| Daphni | Investor | Company | Another investor in Flow48's Series A funding round. |
| Endeavor Catalyst | Investor | Company | A global investment fund supporting Flow48's growth, leveraging their community's entrepreneurial spirit. |
| Evolution Ventures | Investor | Company | A venture capital firm joining the investment round for Flow48. |
| Plus VC | Investor | Company | Another participant in the funding round supporting Flow48's expansion efforts. |
| Idriss Al Rifai | CEO & Co-Founder of Flow48 | Person | The CEO and Co-Founder of Flow48, leading the company’s mission to redefine SME financing in the MENA region. |
| Ben Marrel | CEO & Founding Partner at Breega | Person | CEO of Breega, leading the investment round for Flow48, endorsing their impact on SME financing. |
| Enrique Martnez Hausmann | Principal at Speedinvest | Person | A principal at Speedinvest, involved in investing in Flow48 and observing their growth since the pre-seed stage. |
| Allen Taylor | Managing Partner at Endeavor Catalyst | Person | A managing partner at Endeavor Catalyst, supporting Flow48's journey and acknowledging the CEO’s impact in the tech sector. |
| Hasan Haider | Managing Partner at +VC | Person | A managing partner at Plus VC, supportive of Flow48's mission to innovate SME financing. |