KARACHI: Abhi, a leading fintech company seeking to enhance financial inclusion for employees and small and medium-sized enterprises (MENAP) in the Middle East, North Africa and Pakistan (MENAP) region, has secured $15 million in debt financing through a credit facility led by Shorooq Partners and Amplify Growth Partnership.
This latest funding is an affirmation of confidence in Abhi’s services and reinforces its leadership position in the region’s rapidly evolving fintech sector. This funding will enable Abhi to expand its operations and provide paid services to meet the needs of the country’s workforce.
To date, Abhi has provided approximately $55 million in earned wage disbursement services to more than 545,000 transactions in the UAE. With this strategic investment, Abhi is poised to play a pivotal role in promoting financial inclusion in the UAE.
Nathan Cowan, Head of Private Credit at Shorooq Partners, said: “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.”
Sharaf Sharaf, Chairman of Amplify Growth Partnership, 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.”
Omair Ansari, CEO and Co-Founder of Abhi, said: “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.”
The Middle East, North Africa and Pakistan (MENASA) region is witnessing an acceleration in digital transformation, with growing regulatory support for fintech innovation and a growing demand for financial inclusion. As a leading fintech company in this context, Abhi is taking the opportunity to expand its services and provide key financial services to underprivileged groups.
Shorooq Partners and Amplify Growth worked closely on this funding, drawing on their regional expertise to deliver a structured financing solution for Abhi. This collaboration highlights their shared commitment to supporting fast-growing businesses in the MENAP region and promoting financial inclusion through innovative investment strategies.
