Flooss, a Bahrain-based Sharia-compliant digital consumer financing platform, has successfully secured a USD 22 million credit facility. The significant financing deal was structured by Shorooq, an Abu Dhabi-headquartered investment firm.
This capital injection is set to fuel Flooss’s expansion as it aims to enhance its digital lending solutions for consumers across the Kingdom.
A Milestone for Bahrain’s Fintech Scene
The deal marks a significant achievement not just for Flooss but for Bahrain’s financial landscape, representing the first private asset-backed financing structure in the country. This groundbreaking arrangement serves as a strong institutional validation of Flooss’s AI-driven underwriting model, operational efficiency, and high-quality financing assets, all of which operate under the oversight of the Central Bank of Bahrain (CBB).
Fueling Growth and Product Expansion
With the new facility, Flooss plans to accelerate its growth trajectory and scale its portfolio of instant, Sharia-compliant financing solutions. The company will focus on enhancing its core products, including its cash financing services, while expanding its overall loan book and maintaining rigorous quality control over its assets.
The financing provides the necessary liquidity for the company to solidify its market leadership in Bahrain and build a platform for future regional expansion.
A Validation of Technology
Fawaz Ghazal, Founder and Group CEO of Flooss, commented on the strategic importance of the facility.
“This $22 million facility is more than just capital—it’s a powerful validation of our technology’s integrity and our operational efficiency. It provides the necessary liquidity to execute our growth plans, which target scaling our outstanding portfolio, reinforcing our position as a category leader in Bahrain and a platform for regional expansion,” Ghazal stated.
About Flooss
Founded in 2021, Flooss is a digital platform dedicated to transforming consumer access to credit. Leveraging an advanced AI and machine learning credit engine, the company provides a suite of instant financing solutions, including cash loans, Buy Now Pay Later (BNPL) services, and device financing through an integrated marketplace. The platform is licensed by the Central Bank of Bahrain (CBB), and all its products are certified as Sharia-compliant by Dar Al Marajaa Al Shar’ia.
Source: Waya
