Pakistan (Muhammad Yasir)
Alraedah Digital Solutions, a leading technology company and the
innovation arm of Alraedah Digital Group, is thrilled to announce a
strategic partnership with ABHI, a MENAP-based Fintech specializing in
Earned Wage Access and Invoice Factoring. The collaboration marks a
significant milestone in Alraedah’s commitment to fostering innovation
and driving regional financial inclusion.
Under the terms of the agreement, Alraedah will leverage ABHI’s robust
capabilities to launch a set of innovative financial services in KSA.
The partnership will outline several key provisions which include:
Local Expertise: ABHI will gain access to Alraedah’s expansive
knowledge and understanding of the local Saudi market, to
collaboratively launch innovative financing products in KSA.
Financial Commitment: Alraedah will enable access to $200 million over
the course of three years to develop products that apply ABHI’s
proprietary technology, localized for the Saudi market.
“We are excited to join forces with ABHI to revolutionize the
financial landscape in KSA,” said Paul Melotto, CEO at Alraedah
Digital Solutions. “This partnership underscores our commitment to
fostering innovation and driving economic empowerment through
strategic collaborations. Together, we aim to redefine access to
financial services and empower individuals and businesses across the
region.”
ABHI, founded in 2021, is aimed at increasing financial inclusion
across the region and has been serving Pakistan, UAE, and Bangladesh
through its innovative credit-bridging products. These products
include Earned Wage Access, Invoice Factoring, SME Working Capital &
Revenue Based Financing, and Payroll Solutions, designed to empower
businesses and their employees financially. With a client base of over
1,000 esteemed companies, it actively promotes financial empowerment
and stability to over 750,000 employees across the region and has
processed over $300m in loan value across different geographies. ABHI
is proudly backed by leading investors, including Y Combinator, VEF,
SpeedInvest, Venture Souq, Global Ventures, and Zayn Capital.
“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. This underscores our shared commitment
to driving meaningful economic diversification, financial inclusion,
and entrepreneurial growth, which are the key pillars of the 2030
Vision. Together, we are confident that we can make significant
strides towards realizing the bold aspirations of Saudi Vision 2030
and creating a more prosperous future for all.” said Omair Ansari, CEO
and Co-founder of ABHI.
ABHI’s entry into the KSA market represents a significant step towards
advancing financial inclusion and expanding access to credit for
underserved communities. The partnership between Alraedah Digital
Solutions and ABHI exemplifies the power of collaboration in driving
meaningful change and unlocking new opportunities for growth and
prosperity.
Alraedah Digital Solutions is a leading technology company
headquartered in the Kingdom of Saudi Arabia. With a focus on
innovation and digital transformation, Alraedah empowers businesses
and individuals through cutting-edge solutions in finance, technology,
and beyond.
