AI Fueled Fintech Startup FlapKap Nets $1.2M Funding To Aid Companies In Optimizing Their Ad-Spend
UAE-based Fintech startup FlapKap is helping companies to make cost-effective advertising budgets by providing them with growth insights and flexible payment terms.
Currently operating in UAE and Egypt the startup is the first company of its type in the Middle East. Its management team has a great entrepreneurial record in ecommerce, digital banking, and media. As CEO and Co-founder, Ahmad Coucha is the cofounder of leading advertising agency Kijami and a Havard graduate, Khaled Nassef is the co-founder and CTO and has formerly worked with German neobank N26 and Amazon.
The startup due to its competent team has garnered the attention of investors. Ahmad Coucha cofounder expressing his gratitude for the investment and talking about his startup said the solution empowers the startups and SMEs
“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. It is a testament to our business model and validates our strategy. 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. With a first-mover advantage and a huge market opportunity, we are excited to extend the growth opportunities we have unlocked for our early clients to the whole region.”
The startup solution is tailored for E-Commerce and Saas businesses and performs two functions. Its primary function is to offer online businesses AI insights to aid them in optimizing their advertising spending. Thus aiding them in increasing their profits. Other than this, it offers revenue-based flexible payment terms, the option to pay back their media investment and select their payment terms. With this wide range of services the startup is aiming to expand its growth and is soon going to launch in Saudi Arabia. Plus also plans rapid merchant acquisition.
Undoubtedly, a startup has the potential and chance to expand exponentially because it mainly targets E-Commerce. And the e-commerce companies and startups have raised $500M in 2021 for the first time since 2017 in the MENA region.
This is mainly because of the E-Commerce app and web development which has given birth to many startups with innovative ideas. For instance, Hamples, an e-commerce startup that allows users to try before they buy has recently gathered an undisclosed amount of pre-seed funding.
The E-Commerce market is going to grow as by 2040 95% of all purchases will be via E-Commerce. The startup utilizing this potential aims to use this newly acquired funds to work on its flexible subscription models.