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Pakistan’s financial wellness platform Abhi has raised $17 million in a Series A funding round.
The fund raise was led by venture capital firm Speedinvest and supported by Dubai-based Global Ventures, VentureSouq, VEF, Sturgeon Capital and Rallycap.
The Karachi-based start-up enables workers to draw down a percentage of their accrued salary before payday, thus helping customers avoid late payment fees on bills and providing access to cash during emergency.
Proceeds of the latest funding round will help the fintech firm expand its team and meet huge demand.
Last November, Global Ventures led a pre-Series A funding round for Abhi at a $40 million valuation.
(Writing by Cleofe Maceda; editing by Seban Scaria )
