Salary-Advance Startup Attracts UAE, U.S. Funding at $40 Million Valuation
- Company plans to enter Bangladeshi market early next year
- Pakistan startups raised more than $300 million in 2021
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Pakistani financial platform Abhi Pvt. raised funds at a $40 million valuation just four months after introducing its business that allows salaried employees to access funds before payday.
The Karachi-based company’s bridge round was led by U.A.E.-based Global Ventures, which invested for the first time in Pakistan, according to Chief Executive Officer Omair Ansari. U.S.-based Next Billion Ventures, VEF AB, Rally Cap Sarmayacar and VentureSouq also participated in the fundraising, along with TPL e-Ventures and i2i Ventures, he said.