FlapKap raises $1.2m led by A15
FlapKap, a company revolutionising e-commerce and SaaS growth in the MEA region, has announced its launch and the successful completion of a $1.2 million fundraise.
The fundraise was led by venture capital firm A15.
FlapKap is the regionally contextualised version of Clearco and Wayflyer and the first company of its type in the Middle East. Its primary value propositions are twofold: first, it offers online businesses AI-based insight to help them optimise their advertising spend and maximise profits. Then, it offers these businesses revenue-based flexible payment terms, on that advertising spend, to ensure sustainable growth without cash constraints.
Currently operating in the UAE and Egypt, FlapKap will soon launch in Saudi Arabia. The company also expects wider MEA expansion and rapid merchant acquisition.
Ahmad Coucha, co-founder and CEO of FlapKap said, “We are delighted to announce our launch and fundraise, and have the backing of such an esteemed investor as A15 – one of the leading venture capital firms in the MENA region. It is testament to our business model and validates our strategy.
“We have taken a proven international business model, and adapted it for the Middle East. Our solution empowers SMEs and startups to grow sustainably, without losing equity, and to help manage their cashflows. With a first mover advantage, and a huge market opportunity, we are excited to extend the growth opportunities we have unlocked for our early clients to the whole region.”
Karim Beshara, general partner at A15 said, “A15 is proud to lead the fundraise for FlapKap and to back its CEO, Ahmad Coucha, for our second venture together. FlapKap is not only a visionary company with an excellent business model, but it is creating real tangible value for the region by helping SMEs grow. It also has a first mover advantage in a significant market, all of which creates a very bright future.”
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