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 regulated, Sharia-compliant digital financing products under the supervision of the Central Bank of Bahrain. The new facility will be used to scale the company’s core Sharia-compliant cash financing products, support portfolio growth, and fund regional expansion.
The company says it has issued more than $100 million in financing since launch and currently ranks as the number one app in Bahrain’s finance category, with more than 500,000 downloads.
Flooss’s platform is powered by a proprietary AI and machine learning-based credit engine that uses alternative data sources, including open banking and handset data, to underwrite customers typically underserved by traditional banks. The company offers instant Sharia-compliant financing of up to 2,500 Bahraini dinars, alongside BNPL products and a device-financing marketplace.
Shorooq structured the facility as part of its broader strategy to build institutional-grade funding infrastructure for regulated fintechs across the GCC. The firm said the deal demonstrates that high-growth consumer financing platforms can scale while maintaining disciplined underwriting and portfolio quality.
The credit facility builds on Flooss’s earlier equity funding. In its 2025 end-of-year letter, MEVP revealed it participated in a $2 million seed round for Flooss during the year.
