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Karachi – Pakistan, 17-01-2025 – In a landmark development for the financial services sector, ABHI & TPL have officially completed the acquisition of FINCA Microfinance Bank Limited. The final signing ceremony took place in the presence of prominent leaders from both organisations and key stakeholders, including Omair Ansari, CEO of ABHI, Ali Jameel, CEO of TPL Corp Limited, and Jeffery Smith, Vice President – Chief Administrative Officer of FINCA. The event marked the formal conclusion of this strategic partnership, which aims to expand access to innovative financial solutions and accelerate financial inclusion across Pakistan.

Four years ago, two individuals dared to dream of a Pakistan where financial access wasn’t a privilege but a right. This vision gave rise to ABHI, a fintech born in 2021 to transform financial wellness for millions. Founded in response to a pressing need for financial accessibility, ABHI initially addressed the gap through Earned Wage Access (EWA), empowering employees with real-time access to their earned salaries. Since then, the company has expanded its offerings to include a comprehensive suite of financial solutions, such as payroll services and SME financing, addressing broader economic challenges for individuals and businesses alike.

ABHI’s growth trajectory has been remarkable, driven by the collaboration of two founders—one deeply rooted in Pakistan’s financial landscape and the other armed with global expertise in financial inclusion across nine emerging markets. This synergy has enabled the company to reshape financial access for millions, setting new benchmarks in the fintech landscape. From its beginnings in Pakistan to its expansion into the UAE and KSA, ABHI has continuously innovated, offering solutions that make financial wellness more inclusive and accessible.

Further strengthening its growth story, ABHI recently raised its pre-series B round of $25 million, with a mix of equity and debt. This funding will accelerate the expansion of its financial services internationally, showcasing ABHI’s dedication to broadening its reach and impact beyond Pakistan’s borders.

Adding to the achievements, ABHI has become the first fintech company in Pakistan to be invited to participate in Davos 2025. Building on this momentum, the company recently achieved an unprecedented milestone in partnership with TPL Corp Limited, acquiring FINCA Microfinance Bank Limited—a collaboration approved by the State Bank of Pakistan and the Competition Commission of Pakistan. Together, these three entities are set to redefine financial inclusion in the country. By integrating ABHI’s digital solutions, FINCA’s extensive microfinance network, and TPL Corp’s diversified expertise across retail, insurance, and technology, the partnership paves the way for a new era of accessible and innovative financial services.

FINCA Microfinance Bank has a proven legacy of empowering thousands of Pakistani families over the past decade through lending, savings, and financial education. With a presence in over 100 cities nationwide and more than 1 million users, FINCA has made a financial impact across the country. This acquisition enables ABHI to build upon a strong foundation, introducing a range of services, including gold backed loans, salary advances, savings accounts, and value-added offerings like bill payments. By leveraging FINCA’s branchless banking infrastructure and introducing an AI-powered credit scoring system, ABHI is poised to bring a more integrated digital banking experience to millions of Pakistanis.

“At ABHI, our mission has always been to create accessible financial solutions for everyone,” said Omair Ansari, CEO and Co-Founder of ABHI. “This acquisition represents a significant leap forward, allowing us to reach communities that have historically been excluded from the financial system. Together with TPL and FINCA, we are determined to transform financial access across Pakistan.”

Jeff Smith, Chair of FINCA Pakistan’s Board of Directors, added, “FINCA’s vision has always been about empowering people to take control of their destinies. With this new alliance, we see the potential to extend our impact even further, leveraging digital innovation to drive financial inclusion.”

Ali Jameel, CEO of TPL Corp Limited commented, “At TPL, our commitment to innovation and impact drives everything we do. Joining forces with ABHI and FINCA enables us to redefine financial access, combining our technological prowess with their deep-rooted expertise. This milestone is a step toward building a more inclusive financial ecosystem that empowers millions across Pakistan and beyond.”

This acquisition aligns with ABHI’s ambition to allow the company to manage funds independently, reduce reliance on external banking partners, and strengthen its balance sheet. It also marks the start of an exciting new chapter for Pakistan’s fintech sector, showcasing the transformative potential of collaborative innovation. Further updates on the new financial products and services will be shared in the coming months as the partnership works to drive meaningful change across the nation.

References:
https://ibsintelligence.com/ibsi-news/tpl-corp-abhi-acquire-majority-stake-in-pakistans-finca-microfinance-bank/
https://www.nation.com.pk/31-Jan-2025/abhi-and-tpl-complete-acquisition-of-finca-microfinance-bank
https://www.brecorder.com/news/40344400/tpl-corp-abhi-acquire-finca-microfinance-bank
https://profit.pakistantoday.com.pk/2025/01/24/tpl-corp-abhi-completes-acquisition-of-majority-stake-in-finca-microfinance-bank/