Fintech firm Abhi secures $15m to expand financial services across Pakistan, Middle East

Abhi works to improve access to financial services for employees and small to medium-sized businesses in MENAP region
An undated image of Abhi logo. — Abhi
An undated image of Abhi logo. — Abhi

A fintech firm well acclaimed in the Middle East, North Africa and Pakistan (MENAP) region has successfully secured a financial grant of $15 million in debt financing by a credit facility run by Shorooq Partners and Amplify Growth Partnership.

"This investment represents a strong vote of confidence from prominent fintech investors. With this funding, we are ready to expand our impact, ensuring that every employee, regardless of role, has the financial flexibility they need to succeed," Abhi CEO and co-founder Omair Ansari.

Working to improve access to financial services for employees and small to medium-sized businesses, Abhi is a top financial technology company aiming to make it easier for people and businesses to manage their finances and grow financially.

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The latest grant of funds reflects Abhi's dedication to delivering up to expectations and retaining its leading position in the region's hard-fought fintech space.

The fintech enterprise can make the most of these funds to widen its footprint and extend its services to enable to country's workforce to make ends meet.

Since its inception, Abhi has provided around $55 million in earned wage disbursement services to more than 545,000 transactions in the UAE.

"We hope this funding will enhance financial inclusion and facilitate the disbursement of wages earned in the UAE through Abhi's innovative technology. With the support of Shorook and Amplify, Abhi is poised to accelerate its growth and become a leading innovator in the region," said Shorooq Partners head of private credit Nathan Cowan.

Amplify Growth Partnership chairman Sharaf Sharaf added: "We are excited to lead this joint investment in Abhi, a company that transforms financial services by offering earned wages to individuals and businesses who are unable to access traditional banking. Through innovative technology, Abhi enables SMEs and their employees to address critical financial needs and spread financial services across our region."

With significant funds at hand, Abhi establishes itself as a potent player in the fintech domain with the potential to ensure financial integration and the fulfilment of the rising demand for fintech technologies in the MENASA region.