LuLu Exchange, a leading global financial services enterprise headquartered in Abu Dhabi, has entered into a strategic partnership with Abhi, a Y Combinator-backed fintech and Hub71 startup. This collaboration aims to transform payroll processing and financial management for the workforce in the UAE by integrating earned wage access (EWA) with seamless remittance solutions. The agreement was formalized at a signing ceremony attended by Thampi Sudarsanan, CEO of LuLu Exchange UAE, and Omair Ansari, Co-Founder and CEO of ABHI Middle East Limited.
Bridging Liquidity and Remittances
The core offering of this partnership is designed to provide employees with greater financial flexibility and security. Through the integration, workers can access up to 50% of their accrued wages prior to payday. This “Earned Wage Access” model provides immediate liquidity, allowing employees to meet urgent financial obligations without resorting to high-interest loans.
Crucially, the partnership links this liquidity directly to the LuLu Money Card. This integration allows users to not only access their funds instantly but also remit them internationally using LuLu Exchange’s established cross-border payment infrastructure. By combining salary advances with remittance capabilities, the two companies are creating a unified ecosystem that simplifies how expatriate workers manage and send their earnings home.
Enhancing Financial Inclusion in the UAE
This alliance represents a significant step toward deepening financial inclusion within the region’s workforce. By enabling responsible, real-time access to earned income, LuLu Exchange and Abhi are addressing a critical gap in traditional payroll cycles.
For Abhi, this partnership continues its rapid expansion across the MENA region. Since its founding in 2021, the fintech has grown from offering EWA solutions to providing a comprehensive suite of financial services, including payroll processing and SME financing. The collaboration leverages LuLu Exchange’s vast network and trust within the remittance market, ensuring that these innovative financial tools reach a broad segment of the working population.
About Abhi
Founded in 2021, Abhi is a leading embedded finance platform and the first fintech in the MENAP region to receive the World Economic Forum’s Technology Pioneer Award. Originally launched to provide Earned Wage Access, the company has evolved into a neobank offering payroll financing and SME lending. An alumnus of Y Combinator (S21) and a member of the Hub71 ecosystem, Abhi operates in the UAE, Saudi Arabia, Pakistan, and Oman. The company recently acquired FINCA Microfinance Bank in partnership with TPL to further its mission of financial inclusivity.
About LuLu Exchange
LuLu Exchange is a prominent financial services provider in the UAE, specializing in cross-border payments, currency exchange, and wholesale currency services. As part of LuLu Financial Holdings, the company is known for its digital-first approach and commitment to transparent, secure, and timely payment solutions. Through its network of physical branches and the LuLu Money digital platform, it serves a diverse customer base, facilitating seamless remittances across the globe.
Source: Hub71
