Shorooq Backs Flooss with $22m Facility to Drive Fintech Growth in Bahrain
The funding is aimed at accelerating Flooss’s growth and expanding access to its instant, Sharia-compliant lending solutions for the region’s rapidly growing digitally active population.
Flooss, Bahrain’s leading Sharia-compliant digital consumer financing platform, has secured a $22 million credit facility structured by Shorooq, an Abu Dhabi–headquartered investment firm regulated by the Financial Services Regulatory Authority (FSRA). The funding is aimed at accelerating Flooss’s growth and expanding access to its instant, Sharia-compliant lending solutions for the region’s rapidly growing digitally active population.
The facility marks a first-of-its-kind transaction in Bahrain, providing institutional validation of Flooss’s proprietary underwriting model, which has enabled strong credit controls and a high-quality financing portfolio. Flooss has emerged as a market leader, ranking No. 1 in the Bahrain Finance app category, surpassing 500,000 app downloads, and issuing more than $100 million in financing since launch.
Flooss’s platform is powered by a proprietary AI and machine-learning credit engine, leveraging advanced data inputs such as open banking and handset data to underwrite customers typically underserved by traditional banks. The company offers instant financing of up to BHD 2,500, disbursed directly to users’ bank accounts, alongside Sharia-compliant Buy Now, Pay Later (BNPL) solutions and a device-financing marketplace, all of which have seen strong adoption.
Commenting on the development, Fawaz Ghazal, Founder and Group CEO of Flooss, said the facility represents both capital and confidence in Flooss’s technology and operational discipline, enabling the company to scale its portfolio and pursue regional expansion. Joe Barron, Principal at Shorooq, highlighted Flooss’s ability to combine rapid growth with portfolio quality, noting that the transaction supports Shorooq’s broader strategy to build institutional-grade funding infrastructure for regulated fintechs across the GCC.
The capital will be deployed to scale Flooss’s core Sharia-compliant cash financing products. Flooss is licensed by the Central Bank of Bahrain (CBB), with all offerings verified as Sharia-compliant by Dar Al Marajaa Al Shar’ia, reinforcing its position as a trusted and compliant digital financing provider in the region.
