KARACHI: After expanding its services in the United Arab Emirates and Saudi Arabia, Pakistani fintech ABHI has announced on Tuesday it has acquired FINCA microfinance bank to improve financial inclusion for millions of Pakistanis across the country. 

Abhi is a Pakistani fintech company that enables people to achieve financial empowerment through various services such as the Earned Wage Access (EWA) facility. Founded in 2021, Abhi has been serving customers in Pakistan, UAE, Saudi Arabia and Bangladesh through its credit-bridging products. 

FINCA Pakistan, part of a global FINCA network, operates in 108 cities across Pakistan, providing state-of-the-art deposit and payment solutions, including micro-credit facilities aimed at improving livelihoods.

“Together, these three entities are set to redefine financial inclusion in the country,” a statement from ABHI said. “By integrating ABHI’s digital solutions, FINCA’s extensive microfinance network, and TPL Corp’s diversified expertise across retail, insurance, and technology, the partnership paves the way for a new era of accessible and innovative financial services.”

It said FINCA Pakistan has empowered millions of Pakistanis through lending, savings and financial education over the past few years. The statement said the partnership will enable ABHI to introduce several financial services such as gold backed loans, salary advances, savings accounts and value-added offerings like bill payments. 

“At Abhi, our mission has always been to create accessible financial solutions for everyone,” Omair Ansari, the chief executive officer and co-founder oof ABHI, said. 

 “This acquisition represents a significant leap forward, allowing us to reach communities that have historically been excluded from the financial system. Together with TPL and FINCA, we are determined to transform financial access across Pakistan.”

Jeff Smith, chair of the FINCA Pakistan board of directors, said TPL and ABHI will live up to FINCA’s legacy of serving people.

“By combining their expertise and innovation, this partnership will accelerate financial inclusion in Pakistan, particularly for women and small entrepreneurs, empowering them to improve their livelihoods and contribute to the nation’s economic growth,” Smith said. 

The statement noted that ABHI has become the first fintech company in Pakistan to be invited to participate in Davos 2025, pointing out that it recently raised its pre-series B round of $25 million with a mix of equity and debt.