Flow48Revenue-based financing for SMEs, funded in 48 hours

Flow48 was founded by Idriss Al Rifai, whose previous company Fetchr raised $50M+ before a very public collapse. That context matters — it means Flow48's founder has direct, painful experience with what happens when SMEs cannot access working capital. The product thesis is a direct response to a structural gap in MENA banking.

The $94 million in total funding is substantial, and the model's reliance on revenue data rather than collateral addresses one of the deepest SME pain points. The risk is credit quality: revenue-based financing works brilliantly in growth cycles but can produce painful losses during downturns.