Pakistani fintech startup Abhi has raised $15 million in credit financing, led by Shorooq Partners and Amplify Growth Partnership, to expand its financial services in the UAE.
The new funding will enable Abhi to scale its earned wage access (EWA) offering, a service that allows blue- and white-collar workers to access their earned wages before payday. According to the company, Abhi has already facilitated approximately $55 million in EWA across 545,000 transactions in the UAE.
“This investment will further our mission to drive financial inclusion for underserved communities in the UAE using Abhi’s proprietary technology,” said Nathan Kwon, Head of Private Credit at Shorooq Partners.
Abhi’s innovative financial services have positioned the startup as a key player in the MENAP region, which includes the Middle East, North Africa, and Pakistan. The region is undergoing rapid digital transformation, supported by increasing regulatory initiatives and a growing demand for financial inclusion.
Co-founder and CEO of Abhi, Omair Ansari, expressed his excitement about the investment, noting it as a “strong vote of confidence” from regional investors. “This funding allows us to continue our journey of ensuring that every worker, regardless of their position, has access to the financial flexibility they need to succeed,” he added.
With a presence already established in Bangladesh and the UAE, Abhi aims to continue its regional expansion and further its impact. The fintech company’s valuation has grown to $90 million in just two years, underscoring its rapid rise in the industry.
Abhi’s solutions include earned wage access, payroll processing, payroll financing, and SME financing. The startup has partnered with over 550 companies and gained international recognition, being named a Technology Pioneer by the World Economic Forum in 2023, the first fintech in the MENAP region to receive this honor.
This new round of financing is set to accelerate Abhi’s growth, as it continues to pioneer financial inclusion across the region, backed by strategic investors like Shorooq and Amplify.
