Digital applications and underwriting
Customers complete identity verification, submit an application and review the financing offer before accepting it. Flooss’s credit engine uses data including open banking and handset information to assess borrowers, then disburses approved financing into their bank accounts.
Capital tied to the loan portfolio
Shorooq structured the facility against Flooss receivables. The capital is intended to grow its outstanding consumer-financing portfolio and support regional expansion. It is debt financing, distinct from the company’s cumulative lending volume and from any separate proposed sukuk issuance.
Where the funding goes
- Consumer-financing portfolio growth
- Regional expansion