• Flooss, a Bahrain-based Sharia-compliant fintech, has secured a $22 million credit facility structured by Shorooq, marking Bahrain’s first private asset-backed financing structure.
• Founded in 2022 by Fawaz Ghazal, Flooss provides Sharia-compliant digital financing solutions that are regulated by the Central Bank of Bahrain (CBB).
• The capital will be deployed to scale the company's core Sharia-compliant cash financing products, supporting portfolio growth and regional expansion, while continuing to operate under the supervision of the Central Bank of Bahrain.

Press release:

Flooss, Bahrain’s leading Sharia-compliant digital consumer financing platform, has secured a $22 million credit facility, structured by Shorooq, a leading Abu Dhabi-headquartered investment firm regulated by the FSRA as a Fund Manager. This strategic investment is designed to fuel Flooss’s growth and scale its instant, shariah-compliant lending solutions to the region's rapidly growing, digitally active population.

The credit facility is a significant milestone as the first of its kind in the Kingdom of Bahrain. It signals institutional validation of Flooss’s proprietary underwriting model, which has lead to tight credit controls and a portfolio of high quality financing assets. Flooss has established a strong market leadership, evidenced by its No. 1 ranking in the Bahrain Finance app category and over 500,000 app downloads. The company has already issued more than $100 million in financing since its inception.

"Our mission is to bridge the credit gap by providing instant, Sharia-compliant financing that is accessible to the underserved emerging credit segment," said Fawaz Ghazal, Founder and Group CEO of Flooss. "This $22 million facility is more than just capital—it’s a powerful validation of our technology’s integrity and our operational efficiency. It provides the necessary liquidity to execute our growth plans, which target scaling our outstanding portfolio, reinforcing our position as a category leader in Bahrain and a platform for regional expansion."

Flooss’s competitive advantage lies in its proprietary AI/ML Credit Engine, which utilises advanced data inputs, including Open Banking and Handset data sets to underwrite a segment of customers typically underserved by traditional banks. This technology enables Flooss to deliver instant financing up to 2,500 Bahraini Dinars, allowing for disbursement instantly into beneficiaries' bank accounts. Building on this core, Flooss offers Shariah-compliant BNPL and the Souq device-financing marketplace, both of which have seen high adoption and deepen engagement across our customer base.

"Flooss is a clear category leader, demonstrating that high-velocity growth and exceptional portfolio quality are not mutually exclusive when powered by disciplined underwriting," commented Joe Barron, Principal at Shorooq. "Their ability to maintain strict underwriting and credit controls whilst growing volumes in the consumer financing segment validates the sophistication of their scoring model. Structuring this facility, the first in Bahrain, demonstrates our commitment to developing institutional-grade funding infrastructure that supports high-growth, regulated FinTechs across the GCC region and paves the way for their expansion into key markets like Saudi Arabia.”

The capital will be deployed to scale Flooss’s core products - Shariah-Compliant Cash financing. Flooss is licensed by the Central Bank of Bahrain (CBB) and all products are Sharia-compliant, verified by Dar Al Marajaa Al Shar’ia.