Pakistani fintech Abhi has launched its earned wage access (EWA) platform in Saudi Arabia, marking the startup’s second Middle Eastern market after the UAE. The launch comes over a year after Abhi announced a strategic partnership with Alraedah Digital Solutions that committed $200 million over three years to develop localized financial products for the Saudi market.
The platform allows employees to access their earned wages in 30 seconds through a mobile app, eliminating the traditional monthly salary cycle. Workers can withdraw portions of their already-earned salary any day of the month, with funds transferred directly to their bank accounts or digital wallets.
Founded in 2021 by Omair Ansari and Ali Ladubhai, Abhi started in Pakistan before expanding to the UAE. The Y Combinator-backed startup has processed hundreds of millions of dollars in loan value and serves more than 750,000 employees through partnerships with over 1,000 companies across its markets.
The Saudi platform operates through a B2B2C model where employers onboard their companies through Abhi’s system. Once approved, employees access the service via mobile app. The platform integrates with Saudi Arabia’s Wage Protection System (WPS) and offers real-time transaction monitoring for employers.
According to its website, Abhi Saudi Arabia operates on two pricing models: a slab-based system starting at 30 SAR for transactions up to 1,000 SAR, or a flat fee of 40 SAR. The company charges no subscription fees, with employees only paying when they use the service.
“Partnering with Alraedah Digital Solutions represents a transformative opportunity for Abhi to accelerate our mission of democratizing access to financial services and supporting the ambitious goals of Saudi Arabia’s Vision 2030,” said Omair Ansari, CEO and co-founder of Abhi, when the partnership was first announced.
While Abhi offers multiple services including SME financing and payroll solutions in other markets, the Saudi platform currently focuses exclusively on earned wage access. The Pakistani startup has raised a total of over $50 million in debt and equity so far.
Cairo-headquartered fintech NowPay, which like Abhi is backed by Y Combinator, also entered the Saudi market earlier this year with the launch of its earned wage access platform. The rollout, done in partnership with United International Holding, the company behind retailer eXtra and digital lender Tas’heel; builds on the company’s operations in Egypt.
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