Egypt’s Financial Service Company FlapKap Raises USD 3.6 M

Egypt’s revenue-based financing company FlapKap raised USD 3.6 M in seed funding from Bolt by QED, Outliers, A15 and Nclude.

Founded in 2022 by Ahmad Coucha and Khaled Nassef, FlapKap provides financing to eCommerce and SaaS companies based on revenues. Pegging on the rise of eCommerce spends in the MEA region, growing at around 300% Q-o-Q, the company says it has already partnered with prominent names in the region.

The new funding round will help the company spread its operations in Egypt, UAE and Saudi Arabia.