FlapKap, an Egyptian SaaS platform, has completed a $1.2 million fundraise led by A15.
FlapKap was founded by Ahmad Coucha, Khaled Nassef and Sherif Bichara and its primary value propositions are twofold: first, it offers online businesses AI-based insight to help them optimize their advertising spend and maximize profits. Then, it offers these businesses revenue-based flexible payment terms, on that advertising spend, to ensure sustainable growth without cash constraints. It currently operates in the UAE and Egypt with plans to launch in Saudi Arabia.
Ahmad Coucha, co-founder and CEO of FlapKap, said: “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 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.”
Karim Beshara, General Partner at A15, said: “A15 is proud to lead the fundraise for FlapKap and to back its CEO, Ahmed Coucha, for –our second venture together. 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.”
