FlapKap launched after A15 raised $1.2 million

FlapKap is a company that revolutionizes e-commerce in the MEA region and SaaS growth. It has announced its launch and successfully completed a $1.2 Million fundraise. A15, a leading MENA venture capital company, was the fundraiser and is one of the most prominent backers for early-stage start ups in the region. FlapKap, which is regionally contextualized Clearco and Wayflyer, is the first Middle East company of its kind. Its two main value propositions are: First, it offers online businesses AI based insight to optimize their advertising spending and maximize profits. It also offers flexible revenue-based payment terms for these businesses based on their advertising spend to ensure that they can grow without cash restrictions. FlapKap is currently operating in Egypt and the UAE, but will soon expand to Saudi Arabia. FlapKap also plans to expand its MEA operations and rapidly acquire merchants. FlapKap’s management team has a proven entrepreneurial track record in e-commerce, media and digital banking. Co-founder/CEO is Ahmad Coucha — the co-founder of MENA’s leading advertising agency Kijamii and a Harvard graduate. The founding team also includes Khaled Nassef, co-founder/CTO and formerly of German neobank N26 and Amazon; Amr Gamal, COO, former McKinsey and P&G; and Sherif Bichara, FinOps Manager, formerly at Helios and Lazard. Ahmad Coucha, 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. This 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 enables startups and SMEs to grow sustainable without losing equity and to 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.” FlapKap’s market opportunity is substantial. In 2017, Bain & Company reported the wider MENA e-commerce market was worth $8.4 billion, with an annual growth of 25% since 2014, and predicted the market to reach $28.5 billion by 2022. FlapKap believes these numbers will have increased significantly due to the rapid adoption that was catalyzed through the COVID-19 pandemic. 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 a visionary business with a strong business model. It is also creating tangible value in the region by supporting SMEs growth. It also has a first mover advantage in a significant market, all of which creates a very bright future.”