NEWS
NEWS
FinTech provider FlapKap partners with Aramex to provide funding for SMEs
Aramex has announced a strategic partnership with FlapKap , MENA ’ s revenue-based financing platform . The collaboration aims to support new and existing Aramex merchants , small and medium e-commerce businesses , SMEs based in the UAE to obtain , fast and flexible funding within 48 hours .
SMEs play a critical role in the global economy , especially in fast-paced economic hubs like the UAE . However , obtaining the necessary capital to scale their ventures remains a significant challenge . In fact , according to the International Finance Corp , SMEs in the UAE represent 90 % of total businesses .
As a total percentage of GDP , the estimates for rich MNEA countries are at approximately 51 % contribution from SMEs with employment contribution at 62 %. Paradoxically , there is an SME credit gap in excess of US $ 260 billion in MENA , with only 4 % of outstanding loans in the UAE awarded to SMEs .
This partnership aims to address this challenge by combining Aramex ’ s expertise in supporting SMEs with FlapKap ’ s innovative funding solutions .
Under this landscape , Aramex supports SMEs by offering comprehensive logistics and transportation services , ensuring efficient supply chain management . FlapKap complements this by providing revenue-based financing solutions through its innovative application .
This partnership enables SMEs to access working capital financing from FlapKap to meet their inventory , marketing , and operational needs , all while benefiting from Aramex ’ s reliable logistics support .
FlapKap is MENA ’ s revenue based financing FinTech solution that has been founded by Ahmad Coucha and Khaled Nassef in 2022 . Born in Cairo , Egypt , the powerhouse has spread rapidly to the larger MENA region and is now headquartered in Abu Dhabi , UAE . The solution is tailored for various categories like Retail , F & B , e-commerce and Trading businesses ; that are able to sign up on FlapKap application by simply signing up , uploading a few documents and getting funded in 48 hours .
Klarna partners with UATP to tap the US $ 1 trillion air travel industry
Universal Air Travel Plan ( UATP ), the global payment network that enables organisations to simplify payment processes and expand their payment capabilities , has announced a new partnership with Klarna , the AI-powered global payments network . The partnership allows airlines to offer Klarna ’ s flexible payment services , including interest-free Buy Now Pay Later , providing customers with more flexible payment options for travel products and services .
UATP ’ s collaboration with Klarna represents the convergence of two highly successful payment technology companies , with mutual benefits on the horizon . Klarna gains immediate access to UATP ’ s vast base of airlines and travel agencies and is a preferred BNPL partner for EU and APAC .
The US $ 1 trillion air travel sector is a key growth opportunity for Klarna because credit cards account for 70 % of retail travel payments . This leads to high costs for airlines , who spend US $ 20bn a year on payment processing , and massive interest payments for consumers . Wherever Klarna is available on a travel site , consumer adoption is very high : the total value of travel booked through Klarna has increased by 50 % in the past year .
For UATP , integrating Klarna further strengthens the payment network ’ s support for BNPL options . Offering a variety of BNPL choices helps UATP merchants tap into a global BNPL market estimated at US $ 14.55 billion this year and is expected to grow at a CAGR of 26.50 % to reach US $ 60.47 billion by 2030 .
“ BNPL is an essential payment option for travel merchants to provide their customers . It offers flexibility and convenience to encourage travelers to complete transactions and boost conversion rates ,” said Zach Ornelas , SVP of Global Sales for UATP . “ But to reap the full benefits of having this payment option , merchants need a BNPL partner that their customers know and trust . Klarna is that partner .”
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