Funding

[Funding alert] Jordan-based Capifly Secures $1M in Pre-Seed Funding

Oct 5, 2023 | By Startup Rise EU

Capifly, based in Jordan, secures $1 million in pre-seed funding. Early sponsors and investors made major contributions to the investment round, including Oasis500, BLDR Ventures, Joa Capital, Ahli Fintech (the fully owned subsidiary of Jordan Ahli Bank), as well as important angel investors from Jordan and Saudi Arabia.

Capifly, based in Jordan, secures $1 million in pre-seed funding. Early sponsors and investors made major contributions to the investment round, including Oasis500, BLDR Ventures, Joa Capital, Ahli Fintech (the fully owned subsidiary of Jordan Ahli Bank), as well as important angel investors from Jordan and Saudi Arabia.

New funding aims to make it easier for business owners seeking expansion to access non-dilutive cash. A significant $10 million non-dilutive capital facility is also being established by the company, showing the market's great belief in its potential customers.

Read also - Barcelona-based Incapto Raises €6 million in Funding

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Capifly strategically extended into Saudi Arabia along with this investment, improving the company's potential for regional growth. The company has taken the first steps by registering in Malaysia with its eyes set on Southeast Asia and other critical markets for Islamic financing.

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Ahmed Jaradat, Capifly’s co-founder and CTO, said: “The journey is just beginning, and their continued support propels us forward.”

Dunya Bashiti, Capifly’s co-founder & CEO, said, “Our vision positions Capifly at the forefront of the internet’s GDP growth. Our unique technology isn’t just for our use; we’re gearing up to underwrite debt for other financial institutions, solidifying Capifly’s key role in the digital era”.

Companies looking for finance from Capifly can submit an easy online application in just two minutes. Companies are given one-third of their annual recurring revenue, or ARR, with a maximum funding the ceiling of $1.5 million under the murabaha margin of 15%–20% of the capital taken for granted.

Read also - Utrecht-based Cordys Analytics Raises €900k in Seed Funding 

About Capifly

In 2021, Dunya Bashiti and Ahmed Jaradat founded Capifly, which provides quick, non-dilutive finance to digital companies that are experiencing growth based on their annual recurring income.

Read also - Ukraine-based Product Development Company Trinetix Raises $10 million in Funding

The company's goal is to change alternative financing in emerging nations while promoting equitable chances for local businesspeople. Capifly aims to assist entrepreneurs to realize their full potential and become renowned success stories through its innovative investment strategy.

Read also - Virtual Reality Therapy provider HypnoVR Acquires Oncomfort

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