Abhi Launches Earned-Wage Access in Saudi Arabia With Alraedah Digital Solutions
The fintech brings 30-second salary advances to the Kingdom, backed by a $200m commitment from its strategic partner and integration with the Wage Protection System.
Abhi, a fintech offering earned-wage access and financial services, has launched its earned-wage access product in Saudi Arabia in partnership with Alraedah Digital Solutions, marking a significant expansion into the region's largest economy.
The service lets employees access a portion of their already-earned salary in as little as 30 seconds through a mobile app, withdrawing funds on any day of the month to a bank account or digital wallet rather than waiting for payday. Abhi's Saudi launch integrates with the Kingdom's Wage Protection System and follows a business-to-business-to-consumer model in which employers onboard their staff. Pricing is set at SAR 30 for transactions up to SAR 1,000, or a flat SAR 40 fee, with no subscription charges.
Alraedah Digital Solutions committed $200 million over three years as part of the partnership. "Partnering with Alraedah Digital Solutions represents a transformative opportunity for Abhi to accelerate our mission of democratizing access to financial services," said Omair Ansari, chief executive and co-founder. In Saudi Arabia the company is focusing exclusively on earned-wage access, distinct from the SME financing and payroll products it offers in other markets.
Founded in 2021 and backed by Y Combinator, Abhi says it serves more than 750,000 employees across over 1,000 companies and has raised more than $50 million to date, positioning the Saudi rollout as a key step in its regional growth.