Shorooq Partners and Amplify Growth Partnership are leading the $15 million credit financing secured by Abhi, a leading fintech company that promotes financial inclusion for workers and SMEs across the MENAP region. Abhi’s leadership position in the rapidly developing fintech industry in the region is cemented by this latest funding, which indicates confidence in the company’s services.
With the help of the additional funds, Abhi will be able to grow its operations and better serve the nation’s working populations in both the blue-collar and white-collar sectors through earned wage access (EWA). Through 545,000 transactions, Abhi has given workers in the UAE approximately $55 million in EWA to date. Abhi will be instrumental in promoting financial inclusion in the UAE with this calculated investment.
“It is our hope that this facility further drives financial inclusion of underserved communities in the UAE through Abhi’s proprietary technology,” said Nathan Kwon, Head of Private Credit at Shorooq Partners. “With the support of Shorooq and Amplify, Abhi is poised to accelerate its growth and become a leading innovator in the region.”Sharaf Sharaf, Fund Head at Amplify Growth Partnership, added: “We 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 democratising financial services across our regions.”
“This investment represents a strong vote of confidence from a prominent regional investor in the fintech space,” 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.”
With more regulatory support for fintech innovation and rising demand for financial inclusion, the Middle East, North Africa, and Pakistan (MENAP) region is rapidly becoming digital. Abhi is a leading fintech in this market and is taking advantage of the chance to reach a wider audience by providing essential financial services to marginalized groups.
Working closely together on this financing, Shorooq Partners and Amplify Growth combined their regional knowledge to provide Abhi with a well-organized solution. Their partnership demonstrates a common dedication to MENAP region high-growth companies and to advancing financial inclusion via creative investment approaches.
