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October 9, 2023

Capifly Secures $1 Million in Pre-Seed Funding and Targets $10 Million

Jordan's burgeoning startup scene has triumphed by securing a whopping $1 million in a pre-seed funding round

In a significant milestone for Jordan's startup ecosystem, Capifly, a promising Jordan-based startup, has successfully raised $1 million in a pre-seed funding round. Capifly's mission is clear: to provide non-dilutive capital that fuels the growth ambitions of startups. Furthermore, the company is on the cusp of establishing an impressive $10 million non-dilutive capital facility, a testament to the unwavering confidence the market has in its potential.

This transformative funding round attracted participation from a roster of notable early investors and supporters, including Oasis500, BLDR Ventures, Joa Capital, Ahli Fintech (Jordan Ahli Bank’s wholly-owned subsidiary), as well as prominent angel investors from both Jordan and KSA. Their collective belief in Capifly's vision underscores the startup's potential to revolutionize the funding landscape for emerging businesses.

Adding to its accolades, Capifly strategically expanded its footprint into Saudi Arabia, a move that enhances its regional growth prospects significantly. With its sights firmly set on pivotal emerging markets, particularly in Southeast Asia and the Islamic financing sector, Capifly has taken the first steps by registering in Malaysia.

Ahmed Jaradat, Co-founder and CTO of Capifly, expressed his gratitude for the ongoing support, highlighting that their journey is just beginning.

Dunya Bashiti, Co-founder and CEO of Capifly, emphasized the company's vision to position itself at the forefront of the internet's GDP growth. Capifly's unique technology isn't solely for internal use; it's gearing up to underwrite debt for other financial institutions, cementing its pivotal role in the digital era.

Founded in 2021 by Ahmed Jaradat and Dunya Bashiti, Capifly offers rapid and non-dilutive capital solutions to technology-driven companies experiencing substantial growth, all based on their annual recurring revenue.

The company's overarching goal is to revolutionize alternative financing, championing equal opportunities for entrepreneurs in emerging markets. Through their innovative funding model, Capifly aims to empower startups to reach their maximum potential, ultimately becoming success stories that shape the future.

Capifly provides a swift and Shariah-compliant financing model, offering non-dilutive capital to prominent technology firms based on their recurring revenue.

Startups interested in securing funding through Capifly can complete a brief, two-minute application on the company's website. The capital provided operates with a 15%-20% murabaha margin, granting businesses up to one-third of their Annual Recurring Revenue (ARR) with a maximum funding limit of $1.5 million.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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