Saudi Arabia-based technology venture Alraedah Digital Solutions, announced a strategic partnership with ABHI, a MENAP-based fintech specialising in Earned Wage Access and Invoice Factoring, to foster innovations in financial services in the Kingdom.
Under the terms of the agreement, Alraedah will enable access to $200 million over the course of three years to develop products that apply ABHI’s proprietary technology, localised for the Saudi market.
Alraedah will also leverage ABHI’s robust capabilities to launch a set of innovative financial services in Saudi Arabia.
Paul Melotto, CEO at Alraedah Digital Solutions, said: “Together, we aim to redefine access to financial services and empower individuals and businesses across the region.”
Omair Ansari, CEO and Co-founder of ABHI, said the partnership underscores the company’s shared commitment to drive meaningful economic diversification, financial inclusion, and entrepreneurial growth, which are the key pillars of Vision 2030.
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.
Its product basket, which included Earned Wage Access, Invoice Factoring, SME Working Capital and Revenue Based Financing, and Payroll Solutions, are designed to empower businesses and their employees financially.
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