Fintech startup Flow48 secured USD 69 mn in a Series A funding round to expand its revenue-based financing platform for small and medium-sized enterprises (SMEs) in emerging markets, according to a statement (pdf). The round was a combination of debt and equity, and was led by French VC firm Breega, with participation from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and Plus VC.

Where the money’s going: Flow48 will use the fresh funds to further scale in the UAE and South Africa, while also expanding into Saudi Arabia. The company will also invest in enhancing its platform, adding new features, integrating alternative data sources, and refining risk assessment tools to offer more tailored financial solutions to SMEs.

What does Flow 48 do? Co-founded in 2022 by Idriss Al Rifai (LinkedIn) and Karim Khattar (LinkedIn), Flow48 offers alternative financing solutions for SMEs, using payment data, operational behaviors, and sector insights to convert future revenues into immediate working capital — without requiring equity dilution or traditional collateral.

OTHER STARTUP NEWS-

Data management and marketing firm Journify secured USD 4 mn in funding, according to a press release. The funding round was led by VC firm Silicon Badia, with participation from RZM and other investors. The investment will be used to support the company’s efforts to grow its customer base.

About Journify: Founded in 2023 by Taoufik El Jamali (LinkedIn), Omar Al Shoubaki (LinkedIn), and Amine Chouki (LinkedIn), Journify is a SaaS company that uses AI and data analytics to understand consumer behavior and provide marketing solutions to businesses.

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