Abhi Private Limited, a leading fintech company, has recently invested in Universal Network Systems Limited (UNSL), a freight forwarding company. UNSL announced in a statement on Friday that Abhi has acquired equity stake consisting of 2,742,000 shares in the company. This move demonstrates Abhi’s strategy to diversify its portfolio into various sectors.
Recently, Abhi Private Limited made history by becoming the first fintech in the MENAP region to issue a Sukuk bond. The bond issuance helped the organization raise a sizable amount of funds, amounting to $6.8 million or PKR 2 billion. Abhi CEO and co-founder Omair Ansari said, “We are ecstatic to offer our customers an entirely new suite of financial products and services using the raised capital.”
Abhi Private Limited was established in 2021 and is headquartered in Karachi. The company’s primary focus is to make it possible for partners’ workers to withdraw their salary advances based on their accrued wages at any time. Additionally, it provides working capital to several companies. Within a year of its launch, Abhi raised funds at a valuation of $90 million and entered the United Arab Emirates (UAE) market in December.
UNSL is a reputed cargo forwarder that provides courier and related services domestically and internationally. Abhi’s investment helps UNSL grow its potential and expand its reach to newer boundaries.