LAHORE: ABHI, an embedded finance platform, has partnered with BlueEx, an e-commerce logistics company, to offer e-commerce revenue, cash-on delivery financing and inventory financing in Pakistan (AbhiCOD), a complete solution for financing needs of not only e-commerce companies but also other small and medium enterprises (SMEs) in Pakistan.
As per the ABHI, e-commerce platforms have faced financial hurdles that demand strategic solutions amidst rising inflation. In response to these pressing needs, they’ve introduced AbhiCOD, which is an innovative short-term Shariah-compliant loan solution tailored to meet the financial needs of e-commerce businesses serving as a lifeline for them striving to thrive in today's competitive landscape.
Commenting on the partnership, ABHI Group CEO Omair Ansari said that AbhiCOD represents their commitment to empowering businesses during challenging times. “Our equity with BlueEx has created an unmatched solution, allowing businesses to unlock their true potential by accessing growth financing to capture the opportunities that arise amidst uncertainties,” he added.
“Notably, prominent figures like Wasim Akram, a pre-IPO shareholder in BlueEx, have extended their support to promote AbhiCOD. Their endorsement highlights the significant impact this innovative solution could have on businesses, making it an invaluable asset for entrepreneurs and industry professionals,” he added.
Danish Elahi, Director of BlueEx, expressed his enthusiasm about this collaboration, stating, “SME financing in Pakistan can only happen with logistics and fintech partnership, as retail trade in Pakistan is primarily cash settled; this partnership with ABHI and AbhiCOD addresses critical financial challenges and fosters an environment of growth and success. We are delighted to support businesses on this transformative journey,” he added.
Copyright Business Recorder, 2023
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