Pakistani fintech firm ABHI chooses Abu Dhabi for its global headquarters
Pakistani
fintech firm ABHI, supported by Hub71, has chosen Abu Dhabi as its global headquarters
with assistance from the Abu Dhabi Investment Office (ADIO) to enhance its
international operations, according to a statement by ADIO.
Joining
Abu Dhabi's tech ecosystem in 2022, ABHI is collaborating with ADIO to expand
its reach in emerging markets. ABHI, recognized as a Technology Pioneer by the
World Economic Forum in 2023, specializes in Earned Wage Access (EWA) and
provides payroll solutions and SME financing.
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The
move is seen as a strategic alignment with Abu Dhabi's dynamic tech landscape and
ADIO's forward-thinking vision. This decision reflects ABHI's commitment to
delivering innovative financial solutions and positions it as a leader in the
embedded finance sector.
The
partnership aims to leverage Abu Dhabi's business environment and support
system for accelerated growth and innovation, contributing to the thriving tech
landscape of the UAE and beyond. Abu Dhabi, recognized as one of the
fastest-growing technology ecosystems in the MENA region and the sixth fastest
globally, has become a prominent tech startup destination with over 260
startups raising AED 5.1 billion in funding and generating AED 3.5 billion in
revenues since inception, according to ADIO.
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ABHI,
as a pioneer in SME lending solutions, is engaging in discussions with multiple
UAE banks to roll out its offerings, ADIO added.
Source: Arab News