A leading Saudi Arabian fintech company, Alraedah Digital Solutions, announced a strategic partnership with ABHI, a MENAP-based fintech specializing in Earned Wage Access and Invoice Factoring. This collaboration aims to revolutionize the Kingdom’s financial landscape by introducing innovative financial services.
The partnership aligns with Saudi Arabia’s Vision 2030 goals of fostering innovation, economic diversification, and financial inclusion. Alraedah has committed a significant $200 million funding over three years to develop products leveraging ABHI’s technology tailored for the Saudi market.
ABHI’s expertise will empower Alraedah to launch new financial products that bolster the Kingdom’s financial sector. ABHI brings a proven track record of success, serving over 750,000 individuals across Pakistan, UAE, and Bangladesh with its financial solutions.
“We are excited to join forces with ABHI to revolutionize the financial landscape in KSA,” said Paul Melotto, CEO at Alraedah Digital Solutions. “This partnership underscores our commitment to driving economic empowerment through collaboration.”
Omair Ansari, CEO and Co-founder of ABHI, commented, “Partnering with Alraedah allows us to accelerate our mission of financial inclusion and support Saudi Arabia’s Vision 2030. Together, we can empower citizens, strengthen the private sector, and create a more vibrant economy.”
ABHI’s entry into the Saudi market signifies a major step towards expanding access to credit for underserved communities. This partnership exemplifies the power of collaboration in driving positive change and unlocking new opportunities for growth and prosperity in the Kingdom.
