UAE-based AI-powered tech startup FlapKap announced its launch and completion of a $1.2M fundraise led by A15, one of the most prominent backers of early-stage start-ups in the region.
“A15 is proud to lead the fundraise for FlapKap and to back its CEO, Ahmed 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.”
~ Karim Beshara, General Partner at A15
FlapKap is a UAE-based fintech company revolutionizing how e-commerce and SaaS businesses in the region grow. It is currently operating in the UAE and Egypt, and will soon launch in Saudi Arabia post this financing round. The company also expects wider MEA expansion and rapid merchant acquisition.
FlapKap majorly offers two key services, firstly it offers online businesses AI-based insight to help them optimize their advertising spend and maximize profits. Secondly, it offers these businesses revenue-based flexible payment terms, on that advertising spend, to ensure sustainable growth without cash constraints.
“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 a 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.”
~ Ahmad Coucha, co-founder and CEO of FlapKap
The startup will channel the newly acquired funds to support its expansion into new geographies and further back its flexible subscription models. After, the launch in KSA, FlapKap plans on discovering other countries in the MENA region.