Cairo - Mubasher: FlapKap, an Egyptian company specialised in e-commerce and software as a service (SaaS) in the MEA region, has announced its launch in addition to raising $1.20 million in a funding round.
Egypt-based venture capital firm A15 led the fundraise transaction, according to a press release.
Besides its presence in the UAE and Egypt, FlapKap is projected to soon launch in Saudi Arabia, as it expects wider MEA expansion and rapid merchant acquisition.
The company offers artificial intelligence (AI)-based insights to help clients optimise their advertising spending and maximise profits. It also provides businesses with revenue-based flexible payment plans on their advertising spending to guarantee sustainable growth without cash constraints.
Co-Founder and CEO of FlapKap, Ahmad Coucha, said: “We have taken a proven international business model, and adapted it for the Middle East. Our solution empowers SMEs and startups to grow sustainably, without losing equity, and to help manage their cashflows.”
General Partner at A15, Karim Beshara, meanwhile, commented: “FlapKap is not only a visionary company with an excellent business model, but it is creating real tangible value for the region by helping SMEs grow. It also has a first mover advantage in a significant market, all of which creates a very bright future.”
