The first asset-backed private financing deal in the Kingdom confirms the strength and rapid growth of Flous Credit Company.

Manama, Bahrain – Flous Bahrain, the leading Sharia-compliant digital consumer finance platform in Bahrain, announced that it has secured a $ 22 million credit facility structured by Shurooq, a leading Abu Dhabi-based investment company regulated by the Financial Services Regulatory Authority of Abu Dhabi Global Market . This strategic transaction aims to support Flous’s growth and expand its range of instant Sharia-compliant financing solutions to meet the needs of the region’s digitally active population .

This credit facility is a significant milestone, being the first of its kind in the Kingdom of Bahrain. It reflects the confidence of investment institutions in Flous's credit underwriting model, which has contributed to building a high-quality financing portfolio . Flous has solidified its leading position in the market, as evidenced by its ranking first among financing applications in Bahrain, with its app downloads exceeding 500,000 . Since its inception, the company has issued financing exceeding US$ 100 million .

Fawaz Ghazal, founder and CEO of Flous Group, said : “ Our mission is to bridge the credit gap by providing instant Sharia-compliant financing designed to be accessible to a wider segment of the credit market that is not served by traditional lenders. This $ 22 million facility is not just an injection of liquidity, but a strong testament to the robustness of our technology and the efficiency of our operational processes . It also enables us to implement our expansion plans by growing our existing financing portfolio, strengthening our leading position in Bahrain, and laying the foundations for future regional expansion .”

Floos' competitive advantage stems from its advanced credit engine powered by artificial intelligence and machine learning (AI/ML) . This engine utilizes sophisticated data inputs, including open banking data and mobile phone usage data, enabling the company to target customer segments often underserved by traditional banks . This technology allows Floos to offer instant financing of up to BD 2,500 , with funds deposited directly into beneficiaries' bank accounts . Building on this foundation, Floos also offers Buy Now, Pay Later (BNPL) solutions and its Floos Device Finance platform, both of which have seen high adoption rates and have deepened engagement with the customer base.

Joe Baron, Investment Director at Shurooq, stated : “ Floos is a prime example of leadership in its category, demonstrating that rapid growth and high portfolio quality can coexist when coupled with a disciplined credit model . Their ability to maintain low non-performing loan ratios despite focusing on medium-risk segments is a testament to the sophistication of their rating mechanism . We have structured the first financing deal of its kind in Bahrain, underscoring our commitment to building an institutional financing architecture that supports fast-growing fintech companies in the Gulf and paves the way for them to enter markets such as Saudi Arabia .”

The new capital will be used to launch new core products on the Floos platform, primarily Sharia-compliant cash financing . Floos is licensed by the Central Bank of Bahrain (CBB), and all its products have been approved by the Sharia Review Board .

About Flous​
Floos Bahrain is the leading platform in Bahrain for Sharia-compliant, instant digital financing solutions, transforming access to credit for digitally active consumers in the GCC . Licensed by the Central Bank of Bahrain, it utilizes an AI-powered credit rating engine to offer cash financing, BNPL services, and a marketplace for financing electronic devices . With over 500,000 app downloads, Floos Bahrain leads the finance app category, reflecting its commitment to responsible finance and technological innovation in the region .

For more information: www.flooss.com

About Shorooq Company​

Founded in 2017, Shorouk is a leading alternative investment firm in the MENA region . Our venture capital and private equity funds invest in some of the world's most innovative companies, with a particular focus on the Middle East .

Leveraging our deep expertise in financial technology, platforms, software, and advanced technology, we have invested in leading market innovators, including but not limited to, Pure Harvest Smart Farms , Nymcard , Tamara, Sarwa , Lin Technology, Muzn, and Lindo .

Shurooq was built on the values of building companies with founders and setting attractive returns for investors. We have a strong and effective presence in the UAE, Saudi Arabia, Egypt and Korea .

Visit our homepage : www.shorooq.com

For media inquiries :
Tariq Fouad
Chief Marketing Officer
press@shorooq.com
tfouad@shorooq.com

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