Abhi Analysis: $17M Raised
What is Abhi?
Abhi offers earned wage access, payroll, invoice factoring, and digital payment products for employers, employees, and merchants in Pakistan. Its payroll product supports salary disbursement to any Pakistani bank account or wallet, while Abhi Kaarobar provides invoice-based and working-capital financing. The company also operates AbhiPay for online merchant payments and reports access through Abhi Microfinance Bank for Abhi Salary.
Location
Gate Avenue, Dubai International Financial Centre, Abu Dhabi, UAE
Employees
51-200
Founded
2021
Revenue
$5-17.2M
Product Features & Capabilities
- Earned Wage Access, Payroll Solutions, Invoice Factoring, Business Financing
- Key features include instant access to earned salary via app or SMS, user-friendly payroll software for easy data upload, quick financing services for businesses.
Pricing
- Flat Rs. 150 charged per transaction for salary access, regardless of the amount.
- No sign-up or subscription fee for employees or companies.
- Employees can access up to 50% of their earned salary by default, which can be adjusted by the company.
How much Abhi raised
Series A - $17 million
April 19, 2022Lead Investor: Speedinvest and others
Who are the founders of Abhi
OA
Omair Ansari
Founder
AL
Ali Ladhubhai
Founder
Competitors Overview
Abhi operates in the fintech sector in Pakistan, focusing on services like Earned Wage Access (EWA), Invoice Factoring, and Payroll Solutions. Its main competitors include:
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AdalFi: This fintech company offers a range of financial services, including EWA and invoice financing. AdalFi differentiates itself by targeting small and medium enterprises (SMEs) with tailored financial products that cater to their specific cash flow needs.
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EduFi: Specializing in financial solutions for educational institutions, EduFi provides EWA and payroll services specifically designed for schools and universities. This niche focus allows EduFi to create customized solutions that meet the unique financial challenges faced by educational organizations.
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Neem Finance: Neem Finance offers a variety of financial products, including EWA and personal loans. Its advantage lies in its user-friendly digital platform that simplifies the borrowing process for individuals and businesses, making it easier to access funds quickly.
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Beehive: This platform focuses on invoice financing and EWA, providing businesses with immediate cash flow solutions. Beehive's competitive edge is its strong emphasis on technology, which streamlines the financing process and enhances user experience.
Abhi's notable advantages include being the first mover in the EWA space in Pakistan, a strong focus on financial empowerment for employees, and partnerships with major corporations, which enhance its credibility and reach in the market.
Market Focus
Abhi primarily focuses on the fintech industry, providing services such as Earned Wage Access, Invoice Factoring, and Payroll Solutions.
Investors
- Shorooq Partners
- Amplify Growth Partnership
- TPL Corp (involved in the acquisition of FINCA Microfinance Bank)
Business Model
Revenue from interest on salary advances and employer partnerships; operates via a mobile app.
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