Fintech Flow48 raised $69M in a Series A funding round led by Breega to expand its services into Saudi Arabia.

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The move is savvy because there is a lot more beyond Revenue Based Financing that a MENA-focused fintech lending platform could do in the growing regional economy. Founder Idriss Al Rifai told me me that the company doesn’t have many competitors per se in its core markets, though it does “have similar companies in the US/ Europe such as Wayflier, Pipe.com or the likes of Uncapped or Silvr in France. ”He is therefore hoping Flow48 will be able to assemble a robust view of the the financial strength of its SME clients, and to that end the firm has already completed a pilot of its platform between this year and last. However, as we’ve seen in the US and Europe, it’s unlikely Flow48 will be the last company to launch such a product in the growing MENA region.