Fintech & Ecommerce

MENAP-Based Fintech ABHI Expands to Saudi Arabia

An emerging fintech operator, ABHI, with established operations in Pakistan and UAE, has expanded its business to the Kingdom of Saudi Arabia through a partnership with Alraedah Digital Solutions.

MENAP-Based Fintech ABHI Expands to Saudi Arabia

Alraedah Digital Solutions, the innovation arm of Alraedah Digital Group, has announced a strategic partnership with ABHI, a MENAP-based Fintech specializing in Earned Wage Access and Invoice Factoring to foster innovation and drive financial inclusion in the region.

The collaboration enables Alraedah to leverage ABHI’s robust capabilities to introduce innovative financial services in KSA. ABHI, in turn, will gain access to Alraedah’s expert knowledge and understanding of the local Saudi market.

ABHI specialises in embedded finance solutions, offering a range of fintech products like Earned Wage Access, Invoice Factoring, SME Working Capital &Revenue Based Financing, and Payroll Solutions. This way, the company provides a convenient alternative to people who borrow money from family, friends, or employers to live until the next salary.

Founded in 2021, ABHI has experienced rapid growth, currently serving customers in Pakistan, UAE, and Bangladesh through its innovative credit-bridging products. ABHI expansion to the Saudi Arabia market is a significant step towards promoting financial inclusion and credit access for underserved communities.

The partnership between Alraedah Digital Solutions and ABHI aims to drive meaningful change and unlock new opportunities for growth and prosperity for both businesses and their clients through fruitful collaboration. Together, the two entities hope to make significant progress towards realising the bold aspirations of Saudi Vision 2030, said Omair Ansari, CEO and Co-founder of ABHI.

“Partnering with Alraedah Digital Solutions represents a transformative opportunity for ABHI to accelerate our mission of democratizing access to financial services and supporting the ambitious goals of Saudi Arabia’s Vision 2030. With our innovative financial solutions and Alraedah’s deep local expertise, we are poised to empower Saudi citizens, embolden the private sector, and foster a more vibrant, thriving economy.”

Omair Ansari, CEO and Co-founder of ABHI

Last year, ABHI partnered with Visa and YellowPepper to accelerate the introduction of new payment solutions in Africa, Eastern Europe, and the Middle East and stimulate more intensive innovation. The partnership gave ABHI customers access to a reliable, economical, and instant method of sending and receiving money with A2A transfers.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.