Home » Pakistani fintech start-up Abhi raises $17m in Series A funding – FinTech Futures

Pakistani fintech start-up Abhi raises $17m in Series A funding – FinTech Futures

by Arifa Rana

Pakistani financial wellness platform, Abhi, has raised $17 million in a Series A round led by venture capital firm Speedinvest.
Abhi raises $17m in Series A
Global Ventures, VentureSouq, VEF, Sturgeon Capital, Rallycap and FJ Labs also participated, as well as existing and regional investors Sarmayacar, i2i Ventures and Fatima Gobi.
The company, which claims to be Pakistan’s first financial wellness platform, says the funds will be used to expand its team and build out marketing capabilities to meet customer demand.
Abhi has partnered with two big banks in Pakistan – United Bank Limited and Bank Alfalah – and has recently expanded into offering business financing.
Founded in 2021, the Karachi-based start-up helps employers provide the option of advance salaries for employees.
Through a proprietary app or USSD short code, users can withdraw a portion of their accrued salary instantaneously to any bank account or wallet, with a 2% transaction fee deducted upfront.
Abhi claims to have signed up over 150 companies with a combined employee base of 250,000 on its platform and says that its operations are now “cash flow positive”.
The Pakistani fintech raised $2 million in seed funding in November 2021 in an equity round led by Vostok Emerging Finance.
-or-
Log in with your FinTech Futures account
Alternatively, post a comment by completing the form below:
Your email address will not be published. Required fields are marked *








#BaaS platform @novopayment lands $19m Series A funding NovoPayment CEO and co-founder Anabel Perez says investors… twitter.com/i/web/status/1…
.@brexHQ acquires #bookkeeping #software firm @PryHQ for $90m The deal will see Brex expand its software offering… twitter.com/i/web/status/1…
PayU acquires Ding and invests in Treinta to boost presence in Latin America PayU adds it invested in Treinta to p… twitter.com/i/web/status/1…
Michigan State University Federal Credit Union (MSUFCU) has partnered with @NymbusCore to launch its new digital br… twitter.com/i/web/status/1…
New UK #fintech @FrostMoneyLtd to launch next month In February, the fintech became the latest in a string of comp… twitter.com/i/web/status/1…
Join our upcoming #webinar ‘How to drive up #digital completion rates with hybrid #banking‘ to learn how to optimis… twitter.com/i/web/status/1…
The potential of DLT for capital market firms keen to overcome post-trade challenges While we talk about trades be… twitter.com/i/web/status/1…
Video: @ING_news at @Finovate Europe 2022 – the future of #digital transformation for #banks We sat down with Oli… twitter.com/i/web/status/1…
Receive updates straight to your inbox each day
Available to download for free
Congratulations to all of this year's finalists!
Find a job or post a vacancy

source

0 comment

Related Posts

Leave a Comment