Flow48
UAE-based fintech offering revenue-based and invoice financing to SMEs, with offers within 48 hours. It raised a $25M pre-Series A in 2023 and a $69M Series A in 2025.
Industry: Revenue-based financing for SMEs | Location: Dubai, United Arab Emirates | Founded: 2022 | Total Funding: USD 99M
About Flow48
Flow48 is a financial technology company that provides revenue-based financing and invoice financing to small and medium-sized businesses. Wamda and TechCrunch describe it as UAE-based, while its own website now addresses South African businesses. According to the website, the financing is working capital that needs no collateral and no equity. Revenue-based financing is repaid as a share of monthly revenue, typically 5 to 20 percent.
The about page says Flow48 was incorporated in March 2022 and that its team reached 20 people in November 2022. Its chief executive and co-founder is Idriss Al Rifai, who earlier founded the logistics company Fetchr. TechCrunch reported in December 2023 that a pilot of the platform ran across 2022 and 2023.
The FAQ says Flow48 funds businesses with at least one year of trading history and at least USD 100,000 in annual revenue, up to USD 20 million per business, using a proprietary underwriting engine, and that an offer can follow within 48 hours. Wamda reported in 2023 that the platform connects with ERP providers, payment gateways and e-commerce platforms.
The about page lists a July 2022 partnership with ToggleMarket, an e-commerce platform for the hospitality sector. In December 2023 TLG Capital announced a debt facility of up to USD 5 million for Flow48, which Further Africa reported as support for lending to African small businesses, with Flow48 planning to enter South Africa in early 2024.
Flow48 raised a USD 25 million pre-Series A in November 2023, a mix of equity and debt, from investors including Speedinvest, Daphni, 212 and Endeavor Catalyst. In February 2025 it announced a USD 69 million Series A, again a combination of debt and equity, led by Breega with 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures and Plus VC. DXBStart lists total funding of USD 94 million, equal to the sum of the two rounds.
Wamda said the Series A would fund expansion in the UAE and Saudi Arabia and new features using alternative data. As of October 2026 the website states no licence or regulator, and the company has not published revenue or loan volume figures.
Leadership
- Idriss Al Rifai, Co-founder and Chief Executive Officer