UAE-Based Abhi Bags US$15 Million To Scale In The Country

UAE-headquartered fintech Abhi has net US$15 million in debt financing, led by Shorooq Partners and Amplify Growth Partnership.  

This funding will support Abhi in scaling its operations in the UAE and expanding its earned wage access (EWA) services to more employees in the country, including blue- and white-collar workers. 

Blue-collar workers are typically involved in manual labor or skilled trades, such as construction and manufacturing, often working in physically demanding environments. On the other hand, white-collar workers usually perform office-based tasks in professional settings, such as management or finance, requiring higher education and offering salaries and benefits. 

To date, Abhi has provided around $55 million in EWA to workers in the UAE through 545,000 transactions. 

Besides EWA services, Abhi offers a range of financial solutions, including payroll processing, payroll financing, and SME financing. The company has partnered with over 550 organizations, providing services to more than 750,000 employees. 

In an interview with Inc. Arabia, Omair Ansari, founder and CEO of Abhi, shared insights on the rising demand for earned wage access in the UAE as well as his company’s plans for growth. 

"The demand for EWA has grown significantly in the UAE, largely due to a few key factors,” Ansari said. “The COVID-19 pandemic highlighted the need for greater financial flexibility for employees, as many faced unexpected economic challenges." 

Ansari also noted that employers are becoming more conscious of how financial wellness affects productivity and employee retention. "We’ve seen more companies integrating EWA into their payroll systems, viewing it not just as a financial benefit, but as part of an overall wellness approach." 

Ansari also highlighted the company's commitment to addressing diverse financial challenges across the workforce. "At Abhi, we understand the different financial needs of blue- and white-collar workers, and our solutions are designed to be inclusive and adaptable,” he pointed out.  

For blue-collar workers, the immediate access to earned wages can help them handle daily expenses, especially since they often have tighter cash flows. “Abhi’s earned wage access feature allows blue-collar workers to access their earned income before payday,” Ansari said, noting how the service helps them avoid taking out high-interest loans or borrowing money informally. 

Read More: Shorooq Partners Launches Second Private Credit Fund 

For white-collar workers, the focus shifts more toward long-term financial management. "For white-collar workers, the focus is on long-term financial wellness and planning,” Ansari explained. “Abhi offers services like payroll processing and SME financing, giving higher-income employees more control over their finances."  

This combination of services ensures that Abhi’s platform benefits employees across income levels, Ansari added. Plus, the company’s platform is easy to use for all employees, regardless of their financial literacy. "Our technology is designed to be user-friendly, and we provide communication and educational support to ensure that each employee can use our tools effectively," he said. 

As for the road ahead, Abhi plans to build a broader financial ecosystem. "Beyond earned wage access, we are expanding our SME financing services, offering more payroll processing options, and exploring other financial solutions that meet the needs of both employees and employers," Ansari shared. 

Geographically, the company is looking to expand in countries within the MENAP region. "We have identified opportunities in Saudi Arabia, Pakistan, and Egypt, all of which have large blue-collar workforces in need of financial solutions," Ansari said. According to him, the company sees these markets as places where financial services can be improved to meet growing demand. 

Established in Pakistan in 2021 by Ansari and Ali Ladhubhai, Abhi had received the Technology Pioneer 2023 Award from the World Economic Forum, becoming the first fintech in the region to do so.  

Founded in 2017 and based in Abu Dhabi, Shorooq Partners has been active in the MENAP region's investment landscape, backing companies across fintech, software, and other sectors. 

Dubai-based Amplify Growth is a 2024 partnership between Ajeej Capital and Nuwa Capital.