KARACHI: Alraedah Digital Solutions, a leading Saudi technology company, announced on Thursday it was entering into a strategic partnership with Pakistani fintech ABHI to launch “innovative” financial services in the Kingdom.
Alraedah Digital Solutions, the digital arm of Alraedah Digital Group, focuses on innovation and digital transformation to empower businesses and individuals through cutting-edge solutions in finance and technology.
ABHI is a Pakistani fintech company that provides innovative finance solutions to businesses and their employees. Last year, it was selected as one of the Future 100 companies of the United Arab Emirates.
Founded in 2021, ABHI has been serving customers in Pakistan, UAE, and Bangladesh through its credit-bridging products. These include Earned Wage Access, Invoice Factoring, SME Working Capital & Revenue Based Financing, and Payroll Solutions.
“Under the terms of the agreement, Alraedah will leverage ABHI’s robust capabilities to launch a set of innovative financial services in KSA,” the Saudi company said in a press release.
The statement said as per the terms of the agreement, ABHI will gain access to Alraedah’s knowledge and understanding of the local Saudi market. This would enable it to collaboratively launch innovative financing products in Saudi Arabia.
“Alraedah will enable access to $200 million over the course of three years to develop products that apply ABHI’s proprietary technology, localized for the Saudi market,” the press release said.
The Pakistani fintech says it has a client base of over 1,000 esteemed companies and actively promotes financial empowerment and provides stability to over 750,000 employees across the region.
“With our innovative financial solutions and Alraedah’s deep local expertise, we are poised to empower Saudi citizens, embolden the private sector, and foster a more vibrant, thriving economy,” Omair Ansari, co-founder and CEO of ABHI, was quoted as saying.
Paul Melotto, CEO of Alraedah Digital Solutions, said both companies aim to redefine access to financial services and empower individuals and businesses across the region.
“Together, we aim to redefine access to financial services and empower individuals and businesses across the region,” he said.
Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom
https://arab.news/pnj97
Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom
- ABHI, which also serves customers in UAE, was selected as one of Gulf country’s Future 100 companies last year
- Saudi tech company says partnership to empower Kingdom’s citizens, embolden private sector and foster economic growth
Saudi-backed Wafi Energy Pakistan announces 7.5 percent increase in profits last year
- Wafi Energy Pakistan operates one of country’s largest fuel retail, lubricants networks
- The company is also planning a Dubai-based subsidiary to expand its commercial activities
KARACHI: Wafi Energy Pakistan Limited, a subsidiary of Saudi Arabia-based Wafi Energy Holding, on Friday announced a Rs3.54 billion ($12.6 million) profit last year, marking a 7.5 percent increase from the previous year.
In 2025, Wafi Energy acquired Shell Pakistan and added 35 new retail sites to its network, including a second eco-friendly Shell site built with recycled plastic, bringing the Shell retail network to over 680 sites nationwide.
The lubricants business continued strong performance across both consumer and industrial segments and Wafi Energy said had continued its growth in indirect and process oil segments, besides expanding its mining portfolio.
“We delivered a strong business performance in 2025 and importantly, we did so while investing to grow. Our focus through the year was clear – to expand in priority growth areas, establish Wafi Energy in Pakistan and strengthen the Shell customer experience,” Zubair Shaikh, Wafi Energy Pakistan’s chief executive officer, said in a statement.
“In 2026, our ambition is to accelerate growth, build shareholder value and continue investing in the energy future for Pakistan.”
Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, operates one of the country’s largest fuel retail and lubricants networks. Shell plc divested its majority stake in 2024, after which the company was rebranded under Saudi ownership while continuing to market fuels and lubricants under the Shell brand.
The company said it remains focused on operational excellence and growth.
“The company is also advancing its investment strategy by planning a Dubai-based subsidiary to expand commercial activities and strengthen its regional presence,” it said.
“This strategic move underscores Wafi Energy’s commitment to sustainable growth and expanding its footprint.”
