Bahrain Fintech Flooss Secures $22M Credit Facility From Shorooq

Bahrain-based Sharia-compliant digital consumer financing platform Flooss has secured a $22 million credit facility structured by Abu Dhabi–headquartered investment firm Shorooq, which is regulated by the Financial Services Regulatory Authority. The funding is aimed at accelerating Flooss’s growth and expanding access to its instant lending solutions for the region’s digitally active population.

The facility is described as a first-of-its-kind transaction in Bahrain, providing institutional validation of Flooss’s proprietary underwriting model. Flooss ranks No. 1 in Bahrain’s Finance app category, has surpassed 500,000 downloads, and has issued more than $100 million in financing since launch.

Flooss’s platform uses a proprietary AI and machine-learning credit engine, drawing on data such as open banking and handset signals to underwrite customers typically underserved by traditional banks. The company offers instant financing of up to BHD 2,500 disbursed directly to users’ bank accounts, alongside Sharia-compliant Buy Now, Pay Later options and a device-financing marketplace.

The capital will be deployed to scale core Sharia-compliant cash financing products. Flooss is licensed by the Central Bank of Bahrain, with offerings verified as Sharia-compliant by Dar Al Marajaa Al Shar’ia. Shorooq highlighted that the transaction aligns with its strategy to build institutional-grade funding infrastructure for regulated fintechs across the Gulf Cooperation Council.