Abhi (Pvt.) Limited, a pioneering fintech company, has recently entered Pakistan’s financial technology market with a robust financial wellness platform catering to both individuals and businesses. With a focus on credit-bridging solutions, Abhi aims to enhance financial inclusion across the nation.
The company’s offerings are backed by earned revenues from its customers, and it has successfully raised over $22.8 million in funding with the support of prominent venture capitalists (VCs) and the co-founder’s investment.
By prioritizing ease and convenience in the user experience of their mobile application, Abhi has positioned itself for rapid growth in the industry. The company is steadfast in its business strategy, excluding any plans to enter the unsecured loan market. Additionally, Abhi’s invoice factoring product line has proven to be a significant revenue generator. To ensure diversification and mitigate risk, Abhi will cap the share of operating revenue from a single product line to no more than 70%.
Addressing concentration risk, Abhi has restricted access to its Earned Wage Access (EWA) facility to workers of pre-approved clients. The cumulative exposure of all product lines to a single client is limited to 5% of net equity and subordinated debt. The company is committed to maintaining limits on sector and single product-line exposure at 70% and 20% of net equity and subordinated debt, respectively.
In pursuit of growth and expansion, Abhi has raised its equity base through additional investments and aims to maintain at least PKR 4 billion in subordinated debt and equity, with a minimum liquid avenue of 20%. The company places a strong emphasis on good governance, with an independent director present and plans to adhere to CCG regulations.
Led by seasoned co-founders, Mr. Omair Ansari and Mr. Ali Ladhubai, the management team comprises industry specialists. Abhi has implemented a comprehensive risk management framework and board-approved procedures to cover all aspects of its operations. The company is committed to fulfilling both immediate and long-term objectives with a well-structured business plan.
To ensure the validity of its ratings, Abhi will continue to adhere to established rating criteria. The company’s growth strategy revolves around maintaining rapid expansion and extending its geographic reach. Prudent credit risk management and ongoing enhancement of the control environment remain top priorities.
Established under the Companies Act, 2017, Abhi (Pvt.) Limited is a fintech firm with an NBFC license. Its main offerings include Earned Wage Access, payroll loans, and invoice factoring. The company is primarily owned by Abhi Fintech Limited, with Mr. Omair Ansari (20.21%) and Mr. Ali Ladhubhai (19.33%), co-founders of Abhi Limited, holding the majority of shares. Notably, well-known venture capitalists also have a stake in the company.
As an independent evaluator of risks related to financial instruments and entities, PACRA (Pakistan Credit Rating Agency) assesses Abhi’s ability and willingness to fulfill its responsibilities. The ratings provided by PACRA reflect a professional and impartial analysis without offering specific investment advice to investors.