ABHI partners with Alraedah Digital Solutions to Revolutionize Financial Services in KSA

9thMay 2024p Riyadh, KSA:Alraedah Digital Solutions, a leading technology company and the innovation arm of Alraedah Digital Group, is thrilled to announce a strategic partnership withABHI, a MENAP-based Fintech specializing in Earned Wage Access and Invoice Factoring. The collaboration marks a significant milestone in Alraedah’s commitment to fostering innovation and driving regional financial inclusion. Under the terms of the agreement, Alraedah will leverageABHI’s robust capabilities to launch a set of innovative financial services in KSA. The partnership will outline several key provisions which include: “We are excited to join forces withABHIto revolutionize the financial landscape in KSA,” said Paul Melotto, CEO at Alraedah Digital Solutions. “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.” 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 proudly backed by leading investors, includingY Combinator,VEF,SpeedInvest,Venture Souq,Global Ventures, andZayn Capital. “Partnering withAlraedah Digital Solutionsrepresents a transformative opportunity forABHIto accelerate our mission of democratizing access to financial services and supporting the ambitious goals ofSaudi 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. This underscores our shared commitment to driving meaningful economic diversification, financial inclusion, and entrepreneurial growth, which are the key pillars of the2030 Vision. Together, we are confident that we can make significant strides towards realizing the bold aspirations of Saudi Vision 2030 and creating a more prosperous future for all.” said Omair Ansari, CEO and Co-founder ofABHI. ABHI’s entry into the KSA market represents a significant step towards advancing financial inclusion and expanding access to credit for underserved communities. The partnership betweenAlraedah Digital Solutionsand ABHI exemplifies the power of collaboration in driving meaningful change and unlocking new opportunities for growth and prosperity. About Alraedah Digital Solutions Alraedah Digital Solutionsis a leading technology company headquartered in the Kingdom of Saudi Arabia. With a focus on innovation and digital transformation, Alraedah empowers businesses and individuals through cutting-edge solutions in finance, technology, and beyond.