Egyptian SaaS platform, FlapKap receives $1.2 million in funding
FlapKap, an Egyptian e-commerce startup, has raised US$1.2 million in its latest round of funding to expand into new markets and develop its technology.
The round was led by A15, an Egypt-based early-stage venture capital firm and one of the region’s most prominent backers of early-stage start-ups. A15 is a leading MENA venture capital firm and one of the region’s most prominent early-stage start-up backers.
FlapKap is a Middle East and North African fintech firm that is changing the way e-commerce and SaaS businesses grow in the region.
Organizations can use the startup’s artificial intelligence-based analytics to improve their ad spending and profitability.
“We are overjoyed to announce our debut and fundraise, and to have the support of such a prestigious investor as A15 – one of the leading venture capital firms in the MENA region,” said Ahmad Coucha, co-founder and CEO of FlapKap.
Because of Covid’s rapid adoption of online solutions in the region, the company anticipates rapid growth in the e-commerce market.
FlapKap offers its merchants flexible payment terms after assisting them in reaching their potential for growth.
This enables them to grow sustainably without having to worry about short-term cash constraints.
FlapKap is currently available in the UAE and Egypt, and will soon be available in Saudi Arabia. The company also plans to rapidly expand across MEA and acquire merchants.
