Egypt-born, Abu Dhabi-based fintech platform FlapKap secured USD 34 mn in a pre-series A funding round led by Dubai’s Beco Capital, the startup announced. FlapKap also thanked Pact VC for their “significant backing.”

The round also saw participation from existing investors A15, Nclude, and QED Investors, alongside debt financing from Channel Capital.

FlapKap? The company offers financing to SMEs that have limited access to traditional financing through banks or VCs. Entrepreneurs can get upfront financing to scale their inventory and digital marketing, which they pay back as a percentage of revenues. FlapKap also offers AI-based insights and financial data analytics.

Where’s the money going? FlapKap will use the funding to expand its presence in the UAE and the GCC at large, deploy more capital to support SMEs, and enhance its tech infrastructure, including launching trade finance products for B2B businesses.

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