In a move set to redefine the financial landscape of Saudi Arabia, Alraedah Digital Solutions, a prominent technology company and the innovation arm of Alraedah Digital Group, has announced a strategic partnership with ABHI, a MENAP-based Fintech specializing in Earned Wage Access and Invoice Factoring. This collaboration signifies a significant milestone in Alraedah’s commitment to fostering innovation and driving regional financial inclusion.

Under the terms of the agreement, Alraedah will leverage ABHI’s robust capabilities to introduce innovative financial services in KSA. The partnership outlines several key provisions, including local expertise exchange and a financial commitment of $200 million over three years to develop products tailored to the Saudi market.

Paul Melotto, CEO at Alraedah Digital Solutions, expressed enthusiasm about the collaboration, stating, “We are excited to join forces with ABHI to revolutionize the financial landscape in KSA. This partnership underscores our commitment to fostering innovation and driving economic empowerment through strategic collaborations. Together, we aim to redefine access to financial services and empower individuals and businesses across the region.”

ABHI, established in 2021, is dedicated to enhancing financial inclusion across the region and has been serving Pakistan, UAE, and Bangladesh through its innovative credit-bridging products. With a client base of over 1,000 esteemed companies and a focus on Earned Wage Access, Invoice Factoring, and other financial solutions, ABHI has processed over $300 million in loan value across different geographies.

Omair Ansari, CEO and Co-founder of ABHI, highlighted the transformative potential of the partnership, stating, “Partnering with Alraedah Digital Solutions represents a transformative opportunity for ABHI to accelerate our mission of democratizing access to financial services and supporting the ambitious goals of Saudi Arabia’s Vision 2030. With our innovative financial solutions and Alraedah’s deep local expertise, we are poised to empower Saudi citizens, encourage the private sector, and foster a more vibrant, thriving economy.”

ABHI’s entry into the Saudi market signifies a significant step towards advancing financial inclusion and expanding access to credit for underserved communities. The collaboration between Alraedah Digital Solutions and ABHI underscores the power of collaboration in driving meaningful change and unlocking new opportunities for growth and prosperity.

Alraedah Digital Solutions, headquartered in the Kingdom of Saudi Arabia, is a leading technology company focused on innovation and digital transformation. With a commitment to empowering businesses and individuals through cutting-edge solutions, Alraedah is poised to play a pivotal role in shaping the region’s future of finance and technology.