KARACHI: Pakistan-founded fintech ABHI has partnered with Saudi-listed construction and facilities company Red Sea International to offer its employees early access to earned salaries, the company said on Wednesday, as it expands its financial services business in the Kingdom.

Founded in Pakistan in 2021, ABHI’s core Earned Wage Access, or EWA, product allows employees of participating companies to withdraw part of the salary they have already accrued before their regular payday through an employer-linked digital platform.

The company entered Saudi Arabia in 2024 through a partnership with Alraedah Digital Solutions, which said at the time it would provide access to $200 million over three years to develop financial products using ABHI’s technology for the Saudi market. 

“Financial wellbeing starts with having access to your income when you need it,” ABHI co-founder and CEO Omair Ansari said in a statement announcing the Red Sea International partnership.

“At Abhi, we believe employees should not have to wait for a fixed date on the calendar to access money they have already earned.”

Red Sea International is a Riyadh-listed Saudi company that provides modular buildings, workforce accommodation and related services, particularly for industries operating in remote locations such as oil, gas and mining. 

Under the partnership, its employees will be able to access a portion of their accrued salaries in real time before their normal payday, according to ABHI. The statement did not disclose how many Red Sea International employees would initially have access to the service or financial terms of the agreement.

The deal is the latest in a series of agreements ABHI has signed as it expands its earned-wage business in Saudi Arabia. It has previously partnered with Saudi businesses including Alruqee Group, technology companies QBS and Squadio, online car marketplace Syarah and TAM Aerospace & Defense to offer similar services to their employees. 

Earlier this month, ABHI said its earned-wage product had received Shariah certification from the Shariah Committee of Saudi-based Badiha Company, clearing another step in the company’s efforts to expand the service in the Kingdom. 

Saudi Arabia has been seeking to expand its financial technology industry under its Vision 2030 economic diversification program. The Kingdom’s Financial Sector Development Program has targeted increasing the number of fintech companies operating in the country while encouraging new digital financial products and greater competition in financial services. 

ABHI says it now operates across Pakistan, Saudi Arabia, the United Arab Emirates and Oman, serving more than one million users and working with over 7,000 businesses. The company has expanded beyond earned-wage access into payroll and small-business financing.