FlapKap – A fintech revolutionizing e-commerce and SAAS progress in MEA – Launches and completes $1.2 Million fundraise
Cairo, Egypt – 22 March 2022 – FlapKap, an organization revolutionizing e-commerce and SaaS progress within the MEA area, publicizes its launch and profitable completion of a $1.2 million fundraise. The fundraise was led by A15, the main MENA enterprise capital agency, and one of the vital distinguished backers of early-stage start-ups within the area.
FlapKap is the regionally contextualized model of Clearco and Wayflyer and the primary firm of its sort within the Center East. Its main worth propositions are twofold: first, it presents on-line companies AI-based perception to assist them optimize their promoting spend and maximize income. Then, it presents these companies revenue-based versatile fee phrases, on that promoting spend, to make sure sustainable progress with out money constraints.
At present working within the UAE and Egypt, FlapKap will quickly launch in Saudi Arabia. The corporate additionally expects wider MEA growth and speedy service provider acquisition.
FlapKap’s administration group has a confirmed entrepreneurial observe file in e-commerce, media, and digital banking. Co-founder/CEO is Ahmad Coucha – the co-founder of MENA’s main promoting company Kijamii and a Harvard graduate. The founding group additionally contains Khaled Nassef, co-founder/CTO and previously of German neobank N26 and Amazon; Amr Gamal, COO, former McKinsey and P&G; and Sherif Bichara, FinOps Supervisor, previously at Helios and Lazard.
Ahmad Coucha, co-founder and CEO of FlapKap, stated:
“We’re delighted to announce our launch and fundraise, and have the backing of such an esteemed investor as A15 – one of many main enterprise capital corporations within the MENA area. It’s a testomony to our enterprise mannequin and validates our technique.
“We now have taken a confirmed worldwide enterprise mannequin, and tailored it for the Center East. Our answer empowers SMEs and startups to develop sustainably, with out shedding fairness, and to assist handle their cashflows. With a first-mover benefit and an enormous market alternative, we’re excited to increase the expansion alternatives we have now unlocked for our early purchasers to the entire area.”
FlapKap’s market alternative is substantial. In 2017, Bain & Firm reported the broader MENA e-commerce market was price $8.4 billion, with an annual progress of 25% since 2014, and predicted the market to achieve $28.5 billion by 2022. FlapKap expects these figures to have elevated considerably on account of accelerated adoption catalyzed by the COVID-19 pandemic.
Karim Beshara, Normal Accomplice at A15, stated :
“A15 is proud to guide the fundraise for FlapKap and to again its CEO, Ahmed Coucha, for –our second enterprise collectively. FlapKap is just not solely a visionary firm with a wonderful enterprise mannequin, however it’s creating actual tangible worth for the area by serving to SMEs develop. It additionally has a first-mover benefit in a major market, all of which creates a really shiny future.”
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