Egypt’s FlapKap raises US$1.2M seed round to fuel growth in the MEA region

EGYPT – Egyptian start-up FlapKap, which specializes in e-commerce solutions, has raised US$1.2 million in its latest funding round to expand into new markets and improve its technology.

The round was led by Egypt-based early-stage venture capital firm A15 a top MENA venture capital firm, and one of the most prominent backers of early-stage start-ups in the region.

FlapKap is a MEA-based fintech company revolutionizing how e-commerce and SaaS businesses in the region grow.

The company offers artificial intelligence-based insights to help businesses optimize their advertising spending and maximize profits.

It also offers clients revenue-based flexible payment plans on their advertising spending 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,” said Ahmad Coucha, co-founder and chief executive of FlapKap.

We have taken a proven international business model and adapted it for the Middle East, our solution empowers SMEs and start-ups to grow sustainably, without losing equity, and to help manage their cashflows.”

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.

The e-commerce market in the Middle East and North Africa region is fast catching up with mature markets such as China, with many online retailers scaling up their services to avoid Covid-induced disruptions.

The total e-commerce market size in the region is expected to reach US$49 billion in 2025, surging from US$31.7billion last year.

Strong internet penetration rates, high possession of digital devices, rising incomes, improving logistic advancements, and the presence of global players in the market are driving e-commerce adoption in the region, industry experts said.

The startup expects the e-commerce market to grow rapidly due to the Covid-induced accelerated adoption of online solutions in the region.

After helping online businesses reach their growth potential, FlapKap offers its merchants flexible payment terms in order to help them grow sustainably without having to worry about immediate cash constraints.

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