Pakistan, Middle East fintech operator to acquire FINCA Microfinance Bank

Abhi Private Limited, a fintech company in the Middle East and Pakistan, and TPL Corp. Limited, a prominent tech conglomerate, have announced plans to jointly acquire FINCA Microfinance Bank Limited, according to a statement from Abhi released on Tuesday.

FINCA Pakistan, part of the global FINCA network, operates in 108 cities across Pakistan, offering advanced deposit and payment solutions, including microcredit services designed to enhance livelihoods.

Abhi, which established its global headquarters in Abu Dhabi in January 2024, has expanded its presence through partnerships in Dubai and Saudi Arabia.

The collaboration between Abhi and TPL Corp. aims to transform financial inclusion in Pakistan by combining FINCA’s broad microfinance network with Abhi’s innovative digital solutions and TPL Corp.’s expertise in retail, insurance, and technology. This strategic partnership seeks to expand access to financial products and services for underserved groups, such as rural communities, small businesses, and low-income individuals.

The acquisition will merge TPL’s varied business portfolio with FINCA Pakistan’s established market presence and deep local knowledge. The combined entity is poised to offer customer-centric solutions that can create meaningful impacts in underserved regions.

“Abhi has always been committed to creating accessible financial solutions for all,” said Omair Ansari, CEO & Co-founder of Abhi. “By partnering with TPL, we are expanding our reach and providing vital financial products to millions of Pakistanis who have long been excluded from essential services.”

Looking ahead, Abhi, TPL, and FINCA plan to roll out a new range of financial products tailored to the needs of underserved communities, promoting financial inclusion and contributing to the country’s economic growth.

“FINCA Pakistan has fulfilled its promise of building a nationwide microfinance network that opens up economic opportunities across the country, particularly for women,” said Jeff Smith, chair of the FINCA Pakistan Board of Directors.

“Abhi and TPL share FINCA’s vision of expanding financial access for small entrepreneurs. The infusion of fresh capital and enhanced digital services will help accelerate financial inclusion in Pakistan.”