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The landscape of venture capital financing is changing with non-dilutive revenue-based financing (RBF) gaining traction as a preferred funding model. The decline of the Zero Interest Rate Period (ZIRP) and heightened difficulties in securing venture capital are steering companies toward an alternative.

  • Market Player: This trend is not unique to the US and Europe. Flow48, a fintech from the UAE, has raised $25M in pre-Series A funding to introduce the RBF model to the SME market in the MENA region.
  • Investor Line Up: This funding round, a blend of equity and debt, includes contributions from various investors including 212 VCSpeedinvest, Daphni, Blockchain Founders Fund, and others.
  • Market Numbers: Flow48’s move is strategic, considering the promising growth forecast for the regional economy (5.4% in 2022 and 3.5% in 2023, according to the IMF).
  • Market Predictions: The e-commerce market in Saudi Arabia, UAE, and Egypt is projected to grow by more than 50% to $33.3 billion in the next three years (Bain).

Flow48 founder, Idriss Al Rifai, believes the Middle East, with its unique ecosystem, is ripe for RBF. Drawing from his experience at Fetchr, a Dubai-based express, mail delivery, and logistics services company, Al Rifai plans to address the MENA region’s challenges with a tailored approach.

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