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Wednesday, 23 March 2022

Fintech outfit FlapKap raises USD 1.2 mn in funding

MEA fintech startup FlapKap has raised USD 1.2 mn in a funding round led by tech fund A15, according to a company press release (pdf). FlapKap, which bills itself as the first company of its kind in the region, offers AI-based insight to “help optimize advertising spending” for e-commerce and SaaS businesses. FlapKap is designed to help businesses grow without financial constraints, offering them revenue-based flexible payment terms on advertising spend.

FlapKap is already eyeing new regional markets: The company is currently operating in Egypt and the UAE, with an imminent launch in Saudi Arabia and plans for a “wider MEA expansion and rapid merchant acquisition” in the pipeline, the statement said.

Founders: FlapKap is currently led by co-founder Ahmed Coucha, co-founder of MENA digital agency Kijami. Khaled Nassef is the company’s CTO and co-founder.

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