UAE-Based Egyptian Fintech FlapKap Raises $34 Million Pre-Series A

FlapKap, a UAE-based fintech platform founded in Egypt, has raised $34 million in a pre-Series A funding round. The investment was led by BECO Capital and included new funding from Pact VC. Existing investors such as A15, Nclude and QED Investors also participated, with debt financing from Channel Capital.

Founded in 2022 by Ahmad Coucha, Khaled Nassef, Sherif Bichara and Kunal Harisinghani, FlapKap provides revenue-based financing solutions for e-commerce businesses and consumer-facing industries like retail and restaurants. The platform offers quick funding with flexible repayment terms, aiding businesses in scaling inventory and digital advertising. Originally serving companies with limited access to traditional bank loans, FlapKap has expanded to a wider range of SMEs.

The new funding will support FlapKap’s operations in the UAE and GCC region and upgrade its technology infrastructure, including the launch of trade finance products for B2B businesses.