Flow48 secures $25m in pre-Series A funding to expand lending solutions and financial services.
The pre-Series A round included participation from Speedinvest, Daphni, and Endeavor Catalyst.
≈ £19.7M at $1 = £0.7866 on 28 Nov 2023
Flow48 provides inclusive lending solutions for small and medium-sized enterprises, with a focus on minority and women-led businesses.
Flow48 has raised $25m in a pre-Series A funding round comprising equity and debt. The financing was backed by Speedinvest, Daphni, 212, Blockchain Founders Fund, Unpopular Ventures, Endeavor Catalyst, TLG, and angel investors including Scott Sandell.
The capital will support the company as it expands its financial service offerings into insurance and payments. Flow48 also plans to use the funds to enter the South African market and continue serving underrepresented business owners.
From the founder
"We believe that if the gap in financing exists for everyone and every industry, the hurdle is even higher if you are a woman or from a minority background"
Idriss Al Rifai
Founder at Flow48
Investor perspective
"What Flow48 is bringing to the table is not just innovative, it’s essential for SME growth in the region’s economic landscape. As we look ahead, the potential for Flow48 to expand beyond Revenue Based Financing is very exciting. The team is on track to become a full-service fintech solution for SMEs and expand their offerings to insurance, payments, and other financial services,"
Enrique Martinez Hausmann
Principal, Speedinvest
Use of funds
- 01Expand into international markets
Investors
Enrique Martinez Hausmann
Speedinvest
Shabir Vasram
Daphni
Numan Numan
212
Blockchain Founders Fund
Unpopular Ventures
Allen Taylor
Endeavor Catalyst
TLG