Flooss Secures $22M to Scale Digital Sharia Financing Across MENA Region

Editorial Team

Last updated 13-01-2026

3 min

Flooss, a Bahraini fintech, secures USD 22 million from Shorooq to expand Sharia-compliant financing.

Founded in 2021, Flooss is described as a pioneering firm in digital consumer finance.

Under Central Bank of Bahrain’s licence, it emphasises an AI-driven credit engine for efficiency.

Flooss aims to grow locally and eye regional expansion with this significant funding.

The move reflects a wider MENA trend towards rapid, transparent digital-first financing services.

Flooss, the Bahraini fintech pushing Sharia-compliant consumer financing into the digital age, has just secured a USD 22 million credit facility structured by Abu Dhabi–based investment firm Shorooq. For a relatively young startup founded in 2021, that’s quite a vote of confidence — and, believe it or not, the company says it’s the first private, asset‑backed structure of its kind in Bahrain.

When I first came across Flooss a couple of years ago through some founders we met at Arageek events, the team was already talking about making financing as quick as ordering a taxi. Now they seem closer to that vision. The new credit line is expected to give Flooss enough liquidity to scale its instant, Sharia-compliant cash financing products and sharpen its position in the local market before eyeing regional expansion.

Fawaz Ghazal, the company’s founder and group CEO, described the facility as more than a capital boost, calling it “a powerful validation” of Flooss’s technology and operational discipline. I reckon that kind of endorsement is spot on, especially in a region where trust and compliance can make or break a digital lender.

Flooss operates fully under the Central Bank of Bahrain’s licence, with all its offerings vetted by Dar Al Marajaa Al Shar’ia. That setup covers its instant cash financing, its AI/ML credit engine — which the team likes to highlight as a core differentiator — and even its Buy Now, Pay Later features tied to an integrated device‑financing marketplace. On the flip side, managing risk with AI isn’t always a walk in the park; it can be a bit of a faff to fine‑tune, but the startup claims its underwriting model has kept credit controls tight and asset quality high.

The broader trend here feels familiar. Across the MENA region, digital-first financing continues to build momentum as consumers expect faster, more transparent services. Flooss’s latest move fits neatly into that shift, and I’m honestly not surprised to see institutional players stepping in. One seasoned investor I once chatted with at a panel said that Bahrain often tests fintech models “before they scale into the wider Gulf,” and Flooss seems determined to follow that playbook.

For now, the company appears chuffed to bits with its new funding firepower — and well… I mean, with USD 22 million behind them, who wouldn’t be? The real test will be how quickly they can turn this validation into growth beyond Bahrain without losing the tight credit standards that got them here in the first place.

🚀 Got exciting news to share?

If you're a startup founder, VC, or PR agency with big updates—funding rounds, product launches 📢, or company milestones 🎉 — AraGeek English wants to hear from you!