ABHI, TPL corp inject Rs2.6bn to complete FINCA acquisition

January 29, 2025 (MLN): ABHI and TPL Corp shareholders have jointly injected Rs2.6 billion into FINCA Microfinance Bank Limited as part of its acquisition, officially completing the acquisition process.

The final signing ceremony was held with key leaders and stakeholders from both organizations, including Omair Ansari, CEO of ABHI, Ali Jameel, CEO of TPL Corp Limited, and Jeffery Smith, Vice President and Chief Administrative Officer of FINCA.

This marked a significant milestone in the acquisition, according to the press release.

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.

Together, these three entities are set to redefine financial inclusion in the country.

ABHI has become the first fintech company in Pakistan to be invited to participate in Davos 2025.

It recently raised its pre-series B round of $25 million, with a mix of equity and debt.

This funding will drive the international expansion of ABHI’s financial services, underscoring its commitment to extending its reach and impact beyond Pakistan’s borders.

For over a decade, FINCA Pakistan has played a pivotal role in empowering millions of Pakistani families through lending, savings, and financial education.

FINCA Pakistan has consistently been recognized for customer experience excellence and has brought several innovations to the microfinance market, including the country’s first mobile-network agnostic digital wallet.

With a presence in more than 100 cities throughout the country, the bank has made significant advancements in empowering women entrepreneurs.

This acquisition allows ABHI to leverage a solid foundation, expanding its service offerings to include gold-backed loans, salary advances, savings accounts, and additional value-added features such as bill payments.

“At Abhi, our mission has always been to create accessible financial solutions for everyone,” said Omair Ansari, CEO and Co-Founder of ABHI.

He further mentioned that 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, he added.

“FINCA Pakistan has played a critical role in advancing financial inclusion, empowering millions through lending, savings, and financial education,” said Jeff Smith, Chair of the FINCA Pakistan Board of Directors.

As we exit the market to optimize our global portfolio, we are confident that TPL and ABHI will continue to build on FINCA’s legacy.

By merging their expertise and innovation, this partnership will accelerate financial inclusion in Pakistan, especially for women and small entrepreneurs, enabling them to enhance their livelihoods and drive the nation’s economic growth.

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 allows us to redefine financial access by 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.

The partnership is committed to driving meaningful change across the nation.

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