Hub71-backed ABHI to move headquarters to Abu Dhabi

Image courtesy: Christopher Pike/ Getty Images

Pakistani embedded finance platform, ABHI, is teaming up with the Abu Dhabi Investment Office (ADIO) to relocate its global headquarters and research and development offices to Abu Dhabi.

Hub71-backed ABHI, which joined Abu Dhabi’s tech ecosystem in 2022, is working with ADIO as the fintech firm seeks to scale up its operations to capture growth opportunities in emerging markets.

“We are thrilled to establish our global headquarters in Abu Dhabi, a decision that marks a significant milestone in ABHI’s journey. This move is not just about expanding our geographical footprint; it’s a strategic alignment with Abu Dhabi’s vibrant tech ecosystem and the forward-thinking vision of ADIO,” said Omair Ansari, CEO and co-founder of ABHI.

The UAE’s capital supports the growth of companies at all stages through partnerships and collaboration as part of a broad ecosystem of national champions and investors working together to expand support for high-growth companies from inception to public listing.

Founded in 2021, ABHI provides earned wage access to employees, which allows them to withdraw their earned salary any day and offers employers payroll solutions and SME financing.

The fintech firm is currently servicing more than 500 companies across the globe. It has the potential to support growth across the wider UAE economy, thanks to its pioneering SME lending solutions.

The company is currently in discussions with multiple UAE banks about rolling out its solutions.

ABHI taps ADIO’s tech ecosystem

Meanwhile, ABHI’s relocation to Abu Dhabi cements the UAE’s capital as one of the fastest-growing technology ecosystems in the MENA region and sixth-fastest globally, according to Startup Genome and the Global Entrepreneurship Network.

“ABHI is a great example of how fast companies can start, scale and succeed in Abu Dhabi,” said Badr Al Olama, director-general of ADIO.

“By being part of the Hub71 tech ecosystem for a year, the company is now collaborating with ADIO to rapidly accelerate its growth and expansion beyond Abu Dhabi.”

ADIO provides a comprehensive range of growth-enabling support, including setup enablement, incentives and connections to regional and international trade opportunities that facilitate investment and innovation.

The state-owned investment vehicle is supporting Abu Dhabi to achieve its Falcon Economy vision by stimulating investment opportunities in key sectors including technology and finance.

Last year, ADIO collaborated with NEOPLY, a leading South Korean blockchain technology company, supporting the growth of tech-focused industries in the UAE capital. NEOPLY provides a decentralised finance (De-Fi) platform and various services based on blockchain technology.