ABHI collaboration with Alraedah supports Saudi Arabia’s Vision 2030 image credit shutterstock

Alraedah Digital Solutions, the innovation arm of Alraedah Digital Group, has agreed a strategic partnership with ABHI. A MENAP-based fintech, ABHI specialises 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.

Specifically, ABHI will gain access to Alraedah’s expansive knowledge and understanding of the local Saudi market. The aim is to collaboratively launch innovative financing products in KSA.

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Alraedah will enable access to $200m over three years to develop products that apply ABHI’s proprietary technology. These will be localised for the Saudi market.

Fostering innovation and driving economic empowerment

Paul Melotto, CEO, Alraedah Digital Solutions, said: “We are excited to join forces with ABHI to revolutionise the financial landscape in KSA. 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. It 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. It is designed to empower businesses and their employees financially. It has a client base of over 1,000 companies. Promoting financial empowerment and stability to over 750,000 employees across the region, it has processed over $300m in loan value. ABHI is backed by leading investors, including Y Combinator, VEF, SpeedInvest, Venture Souq, Global Ventures, and Zayn Capital.

ABHI collaboration with Alraedah supports Saudi Arabia’s Vision 2030

Omair Ansari, CEO and co-founder of ABHI, added: Partnering with Alraedah Digital Solutions represents a transformative opportunity for ABHI to accelerate our mission of democratising access to financial services and supporting the ambitious goals of Saudi Arabia’s Vision 2030.

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“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 the 2030 Vision. Together, we are confident that we can make significant strides towards realising the bold aspirations of Saudi Vision 2030 and creating a more prosperous future for all.”