{"id":1348,"date":"2024-10-16T11:15:43","date_gmt":"2024-10-16T11:15:43","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=1348"},"modified":"2025-01-14T15:13:54","modified_gmt":"2025-01-14T15:13:54","slug":"pakistan-abhi-secures-15mn-in-credit-financing-to-expand-financial-inclusion-in-uae","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=1348","title":{"rendered":"Pakistan Abhi secures $15mn in Credit Financing to expand Financial Inclusion in UAE"},"content":{"rendered":"\r\n\r\n\r\n

Dubai<\/em>: Pakistani fintech startup\u00a0Abhi<\/a>\u00a0has secured $15 million in credit financing, a round led by\u00a0Shorooq Partners<\/a>\u00a0and\u00a0Amplify Growth Partnership<\/a>. This funding will enable the company to scale its operations and expand its Earned Wage Access (EWA) services across the UAE, targeting both blue-collar and white-collar workers.<\/p>\r\n\r\n\r\n\r\n

In an official statement released on Wednesday, Abhi shared that the new funding will support its mission to advance financial inclusion in the region. The company has already provided approximately $55 million in EWA services through 545,000 transactions to workers across the UAE. With this latest investment, Abhi is set to deepen its impact on financial inclusion through its innovative solutions.<\/p>\r\n\r\n\r\n\r\n

Nathan Kwon, Head of Private Credit at Shorooq Partners, emphasized the significance of the investment, stating: \u201cIt is our hope that this facility further drives financial inclusion for underserved communities in the UAE through Abhi\u2019s proprietary technology.\u201d He added that with the backing of Shorooq and Amplify, Abhi is positioned to accelerate its growth and solidify its status as a regional innovator.<\/p>\r\n\r\n\r\n\r\n

Sharaf Sharaf, Fund Head at Amplify Growth Partnership, echoed this sentiment, highlighting the transformative nature of Abhi\u2019s services. \u201cWe are excited to co-lead this investment in Abhi, a company that is revolutionizing financial services by providing underbanked individuals with advanced access to their earned wages,\u201d he said.<\/p>\r\n\r\n\r\n\r\n

Omair Ansari, CEO and co-founder of Abhi, expressed his enthusiasm about the investment, describing it as a \u201cstrong vote of confidence\u201d from prominent regional investors. He emphasized that the funding will enable the fintech to expand its impact, ensuring that every employee, regardless of their role, can access the financial flexibility they need to thrive.<\/p>\r\n\r\n\r\n\r\n

The MENAP region (Middle East, North Africa, and Pakistan) is experiencing rapid digitalization, with increasing regulatory support for fintech innovation and a growing demand for financial inclusion solutions. Abhi is well-positioned to tap into this growth.<\/p>\r\n\r\n\r\n\r\n

Since its founding, Abhi has grown rapidly, achieving a valuation of $90 million in just two years. The fintech offers a suite of services, including earned wage access, payroll processing, payroll financing, and SME financing. It has established partnerships with over 550 companies and gained recognition from prestigious institutions such as Hub71 and Endeavor. Abhi also made fintech history in the MENAP region by being the first company to receive the Technology Pioneer 2023 Award from the World Economic Forum.<\/p>\r\n\r\n\r\n\r\n

With operations now in Bangladesh and the UAE, Abhi has set its sights on further expansion, continuing its mission to democratize financial access across the region.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Dubai: Pakistani fintech startup Abhi has secured $15 million in credit financing, a round led by Shorooq Partners and Amplify Growth Partnership. This funding will enable the company to scale its operations and expand its Earned Wage Access (EWA) services across the UAE, targeting both blue-collar and white-collar workers. In an official statement released on Wednesday, Abhi shared that the […]<\/p>\n","protected":false},"author":1,"featured_media":1349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1],"tags":[247,826,828,402,610,827,385,14,511,455],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t