Bahrain based Shariah compliant fintech Flooss has secured a $22 million credit facility structured by Shorooq, as it scales its digital consumer financing products under Central Bank of Bahrain regulation.
Bahrain based Shariah compliant fintech Flooss has secured a $22 million credit facility structured by Abu Dhabi headquartered investment firm Shorooq, providing fresh lending capacity to expand its digital consumer financing products in the kingdom. The facility was described as Bahrain’s first private asset backed financing structure, according to reporting by Wamda, which cited a company announcement tied to the transaction.
Flooss, founded in 2022 by Fawaz Ghazal, operates as a Shariah compliant digital consumer financing platform and is regulated by the Central Bank of Bahrain (CBB), according to Wamda’s report. The company provides “instant” digital financing products aimed at consumers, with a mobile first lending flow focused on speed of approval and minimal paperwork. Flooss also states publicly that it is licensed and regulated by the Central Bank of Bahrain as a financing company, and that it uses technologies including AI, AML tooling, and open banking as part of its underwriting and product delivery stack, according to its official site Flooss.com.
Shorooq, which structured the facility, said the capital will be deployed to scale Flooss’s core product offering, including Shariah compliant cash financing, according to a transaction release published by Zawya. The same release also noted that Flooss’ Shariah compliance is verified by Dar Al Marajaa Al Shar’ia, adding a formal governance layer that is standard for Islamic finance products in the region.
The credit facility aligns with a wider pattern in MENA fintech, where alternative funding structures such as warehouse lines and private credit have become more common tools for consumer lending and buy now pay later platforms that require scalable balance sheet capacity. In Saudi Arabia, for example, fintech Tamara previously disclosed a debt expansion that brought its total warehouse facility to up to $400 million, including up to $200 million in senior debt arranged by Goldman Sachs and an additional up to $50 million mezzanine tranche led by Shorooq Partners, according to reporting from Wamda and a related release published by Gulf News.
Shorooq has expanded its activity in structured debt and credit financing across the region, positioning private credit as a distinct growth lever for startups and asset-backed platforms. The firm outlines its credit strategy and debt structuring focus under its credit practice materials on its website, including its “Nahda Funds” framework, via Shorooq’s credit page. Recent regional financing announcements structured by Shorooq have included deals outside fintech as well, such as a $12.5 million financing for self storage operator The Box, reported by My Startup World.
Flooss has not disclosed portfolio performance, default metrics, or geographic expansion targets alongside the credit facility announcement. However, the $22 million facility adds deployable capital for consumer financing origination in Bahrain’s regulated market, where Shariah-compliant fintech lenders are increasingly using structured credit to scale lending volume while maintaining defined asset-backed terms.
