ABHI, a financial empowerment platform in Pakistan makes it to the next cohort of 16 firms that have been chosen by Hub71, Abu Dhabi’s innovation ecosystem.
The new cohort will take part in Hub71’s Incentive Program. And get access to enabling programmes, an ecosystem of active investors, corporate, governmental, and academic partners, as well as equity-free incentives of up to Dh500,000.
The 16 businesses were chosen from more than 170 submissions following a comprehensive screening process. Pre-seed, seed, and Series-A firms make up the cohort. Which has already raised more than $67 million in total.
ABHI successfully ranked among the 16 startups that will take part in Hub71. Abhi is the first financial wellness platform in Pakistan, a system for early wage access. It permits salaried employees to take out a portion of their earned compensation before the next paycheck. It is a platform for financial independence that seeks to transform the method in which you receive and utilise your pay.
The startup was launched in 2021 and has provided financial empowerment to more than 180 companies.
Additionally, it gives thousands of employed individuals the choice of Salary-on-Demand or Earned Wage Access via a phone app and SMS. Boosting accessibility at all times and locations. Users can instantly transfer the available portion of their collected salary to any bank account or wallet. The stress on HR and finance departments has been reduced as a result of ABHI’s assistance. By enabling firms to provide employees with the option of receiving advance wages, while still meeting their employees’ monetary demands.