Abu Dhabi-based, Egypt-born fintech platform FlapKap secured USD 34 mn in a debt and equity pre-series A funding round led by Dubai’s Beco Capital, with new investment from Pact VC, Forbes Middle East writes. The round also saw participation from existing investors A15, Nclude, and QED Investors, alongside debt financing from Channel Capital.

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.

What FlapKap does: The company offers financing to e-commerce businesses that have been operational for at least six months and have limited access to traditional financing through banks or VCs. Merchants 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.

The latest round brings FlapKap’s total funding to USD 37.6 mn. FlapKap raised USD 3.6 mn in a seed round in 2022, following an earlier USD 1.2 mn round led by A15.

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