Riyadh – Sharikat Mubasher: Alraedah Digital Solutions, a leading technology company and the innovation arm of Alraedah Digital Group, signed a partnership with ABHI, a MENAP-based Fintech specializing in Earned Wage Access and Invoice Factoring.
The deal marks a significant milestone in Alraedah's commitment to fostering innovation and driving regional financial inclusion, according to a recent press release by Alraedah.
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, including local expertise and financial commitment.
“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,” Paul Melotto, CEO at Alraedah Digital Solutions, said.
"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,” Omair Ansari, CEO and Co-founder of ABHI, commented.
Ansari added that the newly signed partnership underscores the company’s shared commitment to driving meaningful economic diversification, financial inclusion, and entrepreneurial growth, which are the key pillars of the 2030 Vision.
It is worth mentioning that 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 backed by leading investors, including Y Combinator, VEF, SpeedInvest, Venture Souq, Global Ventures, and Zayn Capital.