Lahore: Hub71-supported With assistance from the Abu Dhabi Investment Office (ADIO), ABHI, an integrated finance platform based in Pakistan, is moving on to the next phase of its development by locating its global headquarters in Abu Dhabi and expanding its global activities.
When ABHI joined Hub71, the international digital community in Abu Dhabi, in 2022, it was able to take advantage of the market’s benefits by connecting with a wide range of businesses, investors, and governmental organizations. As part of a large ecosystem of national champions and investors, the capital of the United Arab Emirates collaborates and partners to support enterprises at all phases of growth, from startup to initial public offering (IPO). As the FinTech expands, ABHI is currently collaborating with Hub71’s strategic partner ADIO.
In order to promote investment and innovation in the fast-growing FinTech industry, ADIO is offering a wide range of growth-enabling support, such as setup enablement, incentives, and linkages to the Abu Dhabi ecosystem and global trade prospects.
“ABHI is a great example of how fast companies can start, scale, and succeed in Abu Dhabi,” stated Badr Al-Olama, Director General of ADIO. After a year of participation in the Hub71 tech ecosystem, the company is now working with ADIO to quickly accelerate its growth and expansion outside of Abu Dhabi.
ABHI, which was established in 2021, is regarded as one of the most inventive and promising businesses in the world and was recognized as a 2023 Technology Pioneer by the World Economic Forum. It offers payroll solutions to companies, SME funding, and Earned Wage Access (EWA), which enables employees to take out their earned money on any day. Currently, it provides services to over 500 businesses worldwide. Additionally, the Ministry of Economy, the Government Development, and the Future Office have chosen ABHI to be one of the Future 100 firms in the United Arab Emirates.
According to Startup Genome and the Global Entrepreneurship Network, one of the fastest-growing technological ecosystems in the Middle East and North Africa (MENA) and the sixth fastest internationally is Abu Dhabi, which contributes to the appeal of ABHI’s global headquarters. This accomplishment solidifies Abu Dhabi’s standing as the leading tech startup hub in the region, as over 260 startups have raised over AED 5.1 billion in funding and brought in AED 3.5 billion in revenue since their founding. ABHI, being a trailblazer in the SME loan solutions arena, holds the capacity to bolster expansion within the broader UAE economy. The company is presently discussing the rollout of its products with many banks in the United Arab Emirates.
“We are thrilled to establish our global headquarters in Abu Dhabi, a decision that marks a significant milestone in ABHI’s journey,” stated Omair Ansari, CEO and co-founder of ABHI. This move represents a strategic alignment with ADIO’s forward-thinking strategy and Abu Dhabi’s thriving digital ecosystem, not just a matter of geographical expansion. Because of our presence in Abu Dhabi, we will be able to take advantage of the vibrant business climate and strong support network to propel our expansion and innovation. This collaboration with ADIO demonstrates our dedication to providing innovative financial solutions and upholds our position as the industry leader in embedded finance.
In order to help Abu Dhabi realize its Falcon Economy goal, ADIO is dedicated to facilitating investment possibilities in important industries like financial services and technology. The development of tech-focused sectors in the capital of the United Arab Emirates was aided by ADIO’s partnership with NEOPLY, a top blockchain technology startup based in South Korea, last year. NEOPLY offers a range of blockchain-based services as well as a decentralized finance (De-Fi) platform.
