Startup Abhi selected among UAE’s Future 100 companies

By News Desk

December 15, 2023

KARACHI: Abhi, a Pakistani fintech that provides innovative finance solutions to businesses and their employees, has been selected as one of the Future 100 companies of the United Arab Emirates (UAE), the startup said on Thursday.

Future100, an initiative launched by the UAE’s economy ministry in partnership with its minister of state for government development and future, spotlights the top 100 startups contributing to the nation’s readiness for the future and competitiveness of the UAE’s economic sector.

In this photo, posted on October 6, 2022, team members of Pakistan-based fintech, Abhi, gather for a group photo at their office in Lahore. — Facebook/ Abhi

Abhi started its operations in the UAE in 2022, enabling salaried employees to draw a percentage of their accrued salary before their next payroll through the startup’s mobile app or via SMS.

In September this year, the world’s leading multinational payment card services provider, Visa Inc., partnered with Abhi, along with YellowPepper, a mobile banking services company, to introduce account-to-account payments in the UAE.

“We are incredibly honored to be selected as the Future 100 company in the UAE,” Omair Ansari, Abhi co-founder and CEO, said in a statement. “This achievement underscores our commitment to promoting financial wellness in the region.”

The Future 100 Awards ceremony, held last week, was attended by Abdulla Bin Touq Al Marri, the UAE’s minister of economy, and Ohood bint Khalifa Al Roumi, the country’s minister of state for government development and the future.

“It’s vital to emphasize the vibrant potential and the incredibly supportive environment the UAE has provided us,” Ansari said. “We remain dedicated to financially empowering businesses and individuals.”

Abhi says its embedded finance platform provides instant credit access, aiding businesses, employees, and vendors to bridge payment gaps. Having partnered with over 450 companies, Abhi, which is licensed by both Abu Dhabi General Market and Dubai International Financial Center, says it drives economic growth. In 2023, it became the first fintech enterprise in the MENAP (Middle East, North Africa, and Pakistan) region to be recognized as a Technology Pioneer by the World Economic Forum, according to the Future 100 website.