Abhi, a leading fintech company driving financial inclusion for employees and SMEs throughout the MENAP region, has secured $15 million in credit financing led by Shorooq Partners and Amplify Growth Partnership. This latest funding signals confidence in Abhi\u2019s services and solidifies its leadership position in the region\u2019s rapidly evolving fintech industry.<\/p>\n
The new funding will allow Abhi 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 circa $55 million in EWA to workers in the UAE<\/a> across 545,000 transactions. With this strategic investment, Abhi is set to play a key role in further advancing financial inclusion across the UAE.<\/p>\n \u201cIt is our hope that this facility further drives financial inclusion of underserved communities in the UAE through Abhi\u2019s proprietary technology\u201d said Nathan Kwon, Head of Private Credit at Shorooq Partners. \u201cWith the support of Shorooq and Amplify, Abhi is poised to accelerate its growth and become a leading innovator in the region.\u201d<\/p>\n Sharaf Sharaf, Fund Head at Amplify Growth Partnership, added: \u201cWe are 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 democratizing financial services across our regions.\u201d<\/p>\n \u201cThis investment represents a strong vote of confidence from a prominent regional investor in the fintech space,\u201d said Omair Ansari, CEO and co-founder of Abhi. “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.”<\/p>\n