RIYADH: Pakistan-based salary advance platform, Abhi, has raised $17 million in a series A round led by venture capital firm Speedinvest.
Abhi allows its users to withdraw a portion of their accrued salary into any bank account, as well as help employers reduce workload on HR and finance departments, while facilitating employee needs.
The company will use the funding to meet customer demand, increase marketing capabilities, and expand its team.
“All sizes of companies and their employees want the services we provide. The proceeds will support our exponential growth, and help us meet customer demand,” Omair Ansari, CEO at Abhi, said in a statement.
Founded in 2021, Abhi has seen huge growth working with over 150 companies with a user base of 250,000 people.