Flooss, a Bahrain-based Sharia-compliant digital consumer financing platform, has secured a USD 22 million credit facility by Shorooq, an investment firm regulated by the FSRA as a Fund Manager.
The investment will fuel Flooss’s growth and support its instant lending solutions, reflecting the institutional validation of its proprietary underwriting model. The company has issued over USD 100 million in financing since its inception, focusing on bridging the credit gap by offering instant financing accessible to the underserved credit segment.
Fuelling consumer financing in Bahrain
The USD 22 million facility reflects Flooss’s technological integrity and operational efficiency, offering the liquidity necessary to grow and expand its portfolio. The company stands out when it comes to its proprietary AI/ML Credit Engine, which leverages data inputs, such as Open Banking and Handset data sets, to underwrite a segment of customers typically underserved by traditional institutions.
This enables Flooss to offer instant financing up to approximately USD 6,630, allowing for disbursement instantly into beneficiaries’ bank accounts. Additionally, the company also provides Shariah-compliant BNPL solutions and powers the Souq device-financing marketplace, both of which witness high adoption and deepen customer engagement.
Shorooq believes Flooss is demonstrating that optimised underwriting can offer both high-velocity growth and better portfolio quality, having the ability to maintain credit controls and strict underwriting while growing volumes in the consumer financing segment. This highlights the modernisation of its scoring model.
Structuring this facility reflects Shorooq’s commitment to developing improved funding infrastructure, which can support high-growth, regulated fintechs across the GCC region, shifting the focus on expansion into key markets, such as Saudi Arabia. The capital is to be deployed to scale Flooss’s solutions, including Shariah-compliant cash financing. The company is licensed by the Central Bank of Bahrain (CBB), and all its products and solutions are verified by Dar Al Marajaa Al Shar’ia.
