Abhi, a leading fintech company driving financial inclusion for employees and SMEs throughout the MENAP region, announced securing $15 million in credit financing.
The debt financing is being led by Shorooq Partners and Amplify Growth Partnership.
Abhi said the new funding will allow it to scale its operations and further expand its earned wage access (EWA) to serve the blue- and white-collar working populations in the country.
To date, Abhi has provided about $55 million in EWA to workers in the UAE across 545,000 transactions.
Omair Ansari, CEO and co-founder of Abhi said: “With this funding, we are poised to scale our impact, ensuring that every employee, regardless of their role, has access to the financial flexibility they need to thrive.”
Nathan Kwon, Head of Private Credit at Shorooq Partners, said the latest financing facility will further drive financial inclusion of underserved communities in the UAE through Abhi’s proprietary technology.
“With the support of Shorooq and Amplify, Abhi is poised to accelerate its growth and become a leading innovator in the region,” he said.
Sharaf Sharaf, Fund Head at Amplify Growth Partnership, said the fund is excited to co-lead this investment in Abhi, a company that is transforming financial services by providing underbanked individuals advanced access to their earned wages.
“Through innovative technology, Abhi is empowering both SMEs and their employees, addressing critical financial needs while democratising financial services across our regions,” he said.
MENAP region – comprising the Middle East, North Africa, and Pakistan – is undergoing rapid digitalisation, with increased regulatory support for fintech innovation and a growing demand for financial inclusion. As a pioneering fintech in this landscape, Abhi is seizing the opportunity to expand its reach, delivering key financial services to underserved populations.
