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Jordan-based Capifly raises $1M, initiates $10M Shariah Compliant facility for emerging startups

Capifly founders
Picture credits: Capifly

Jordan-based startup Capifly has successfully raised $1 million in a pre-seed funding round, aiming to facilitate non-dilutive capital for startups seeking growth. Additionally, the company is in advanced stages of establishing a substantial $10 million non-dilutive capital facility, showcasing the market’s strong confidence in its potential.

The funding round saw notable participation from early investors and backers, including Oasis500, BLDR Ventures, Joa Capital, Ahli Fintech (Jordan Ahli Bank’s wholly-owned subsidiary), alongside significant angel investors from Jordan and KSA.

Coinciding with this investment, Capifly strategically expanded into Saudi Arabia, bolstering its growth prospects in the region. With its sights set on emerging markets crucial for Islamic financing, particularly Southeast Asia, the company has taken initial steps by registering in Malaysia.

Ahmed Jaradat, Capifly’s co-founder and CTO, said: “The journey is just beginning, and their continued support propels us forward.” 

Dunya Bashiti, Capifly’s co-founder & CEO, said, “Our vision positions Capifly at the forefront of the internet’s GDP growth. Our unique technology isn’t just for our use; we’re gearing up to underwrite debt for other financial institutions, solidifying Capifly’s key role in the digital era”.

Alternative financing made accessible 

Ahmed Jaradat and Dunya Bashiti established Capifly in 2021, offering rapid, non-dilutive capital to technology companies experiencing growth, based on their annual recurring revenue.

The company’s objective is to transform alternative financing within emerging markets, advocating for equal opportunities for regional entrepreneurs. Through its inventive funding approach, Capifly strives to enable startups to reach their maximum potential and emerge as notable success stories.

What are its funding methods?

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

Companies seeking funding from Capifly can complete a brief 2-minute application on the company’s website. The provided capital operates on a 15%-20% murabaha margin, granting businesses one-third of their Annual Recurring Revenue (ARR), with a maximum funding limit of $1.5 million.

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