FlapKap
“Can a revenue-based-financing platform become the default working-capital provider for MENA SMEs before regional banks and BNPL players move downstream?”
Founded2021
HQDubai, United Arab Emirates (with offices in Abu Dhabi, Cairo)
FoundersAhmad Coucha (CEO), Khaled Nassef (CTO), Sherif Bichara, Adel Hodroj
Total raised$38.8M
Latest roundPre-Series A, 2024
IndustryFintech / Lending
The story
Founded in 2021–2022 in Egypt as a revenue-based financing (RBF) platform for e-commerce brands across MENA, FlapKap targets SMEs underserved by traditional banks. The company moved its HQ to Dubai/Abu Dhabi to access GCC capital and SME demand, expanded use cases beyond marketing-spend financing to inventory, cash flow, and trade receivables, and built distribution partnerships with Amazon, Aramex, and Mastercard. It remains a single-product lender (working capital / RBF) rather than a full BaaS or banking play.
Product timeline
2021
FlapKap founded by Ahmad Coucha and Khaled Nassef to provide revenue-based financing to MENA SMEs· pivot
2022
Raised $3.6M seed funding to scale RBF platform for e-commerce brands in MENA· lending
2023
Partnered with Amazon to provide 48-hour financing to Amazon Sellers in the Middle East· lending
2023
Partnered with Aramex to extend revenue-based funding to UAE SME merchants· lending
2024
Raised $34M pre-Series A round led by BECO Capital· lending
2024
Selected for Mastercard Start Path Small Business program (only MENA participant)· banking
The stack
Lending
Accounting gap: none