Pakistan’s fintech pioneer, Abhi, has raised $15 million in credit financing to further expand financial inclusion in the UAE, with the deal being co-led by Shorooq Partners and Amplify Growth Partnership. This strategic investment empowers Abhi to continue its mission of providing earned wage access (EWA) and financial services to underserved communities.
Key Highlights:
- $15M Financing: Led by Shorooq Partners and Amplify Growth Partnership.
- Targeting Underserved Communities: Focus on bringing financial inclusion to the blue- and white-collar workforce in the UAE.
- Rapid Expansion: After making waves in Pakistan, Bangladesh, and now the UAE, Abhi is on a growth trajectory!
What Leaders Are Saying
Nathan Kwon, Head of Private Credit at Shorooq Partners, said:
“This facility will further drive financial inclusion of underserved communities in the UAE through Abhi’s proprietary technology.”
Sharaf Sharaf, Fund Head at Amplify Growth Partnership, added:
“Abhi is transforming financial services by providing underbanked individuals advanced access to their earned wages.”
Omair Ansari, CEO and co-founder of Abhi, emphasized:
“This investment is a strong vote of confidence in our mission. We’re poised to scale our impact, ensuring every employee has access to the financial flexibility they need to thrive.”
Abhi’s Success So Far
- Valuation Growth: Abhi’s valuation hit $90 million in just two years!
- Global Recognition: Awarded Technology Pioneer 2023 by the World Economic Forum and recognized as one of the Future 100 companies of the UAE.
- Strategic Partnerships: Collaborating with 550+ companies in the region and becoming part of Hub71—Abu Dhabi’s global tech ecosystem.
Impact in Numbers
- $55 million in EWA provided across 545,000 transactions in the UAE.
- Expansion into Bangladesh and UAE has amplified Abhi’s footprint, empowering the MENAP region (Middle East, North Africa, Pakistan) with financial inclusion solutions.