Karachi: Alraedah Digital Solutions, a leading technology company and the innovative arm of Alraedah Digital Group, is pleased to announce a strategic partnership with ABHI, a MENAP-based fintech specializing in profitable payroll and invoice factoring. The partnership marks an important milestone in Alraedah’s drive to drive innovation and regional financial inclusion.
Under the terms of the agreement, Alraedah will leverage ABHI’s strong capabilities to launch several innovative financial services in KSA. The partnership will outline some important rules, including:
- Expertise: ABHI will have Alraedah’s understanding of the wider Saudi Arabian market, launching innovative financing products in KSA.
- Financial commitment: Alraedah will receive $200 million over three years to develop products using ABHI’s proprietary technology localized for the Saudi Arabian market.
“We are excited to join ABHI to transform KSA’s financial landscape,” said Paul Melotto, CEO of Alraedah Digital Solutions. “This partnership shows our commitment to foster innovation and strengthening economic power through strategic partnerships. Together, we aim to increase access to financial services and empower individuals and businesses in the region.”
Established in 2021, ABHI aims to increase financial inclusion in the region and serve Pakistan, UAE and Bangladesh through innovative credit bridging products. These products include revenue generation, invoice factoring, SME working capital and revenue-based financing, and payroll solutions designed to financially strengthen businesses and their employees. With a client base of over 1,000 respected companies, it actively promotes financial empowerment and sustainability to over 750,000 employees in the region and has processed over $300 million in loans across multiple geographies. ABHI is proudly supported by leading investors including Y Combinator, VEF, SpeedInvest, Venture Souq, Global Ventures and Zayn Capital.
The partnership with Alraedah Digital Solutions is a transformative opportunity for ABHI to accelerate our mission to democratize access to financial services and support the ambitious goals of Saudi Arabia’s Vision 2030. We are ready to empower Saudi Arabia with innovative financial solutions and Alraeda’s deep local expertise. citizens, nurture the private sector and develop a more vibrant, prosperous economy This reflects our commitment to meaningful economic diversification, financial inclusion and entrepreneurial growth, pillars of Vision 2030, to realize the bold ambitions of Saudi Vision 2030 and all we can. take important steps to create a better future. said Omair Ansari, CEO and Founder of ABHI.
ABHI’s entry into the KSA market is an important step in promoting financial inclusion and expanding access to credit for disadvantaged communities. The collaboration between Alraedah Digital Solutions and ABHI demonstrates the power of partnership in driving meaningful change and opening up 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 with cutting-edge solutions in finance, technology and more.
