UAE-based fintech Abhi, specializing in embedded finance, has successfully raised $15 million in debt financing. The round was spearheaded by regional tech investor Shorooq Partners and Amplify Growth Partnership. This significant injection of funds is set to boost Abhi’s expansion efforts and enhance its earned wage access (EWA) solutions across the UAE.
The company aims to use this capital to scale its operations and broaden its EWA services, targeting both blue- and white-collar workers. EWA, a service primarily offered to low-wage and hourly employees, provides them the flexibility to access a portion of their earned wages ahead of the regular payroll cycle.
Abhi’s impact is already notable, with $55 million disbursed through EWA over 545,000 transactions to workers in the UAE, demonstrating the substantial reach and potential growth of their financial solutions.
