By Muhammad Soban Islamabad, April 22, (INP-WealthPK): Fintech startups are performing astonishingly in Pakistan as two startups, Abhi and SadaPay raised 17 million dollars and 10.7 million dollars, respectively from the global investors. Pakistan's startups have recently witnessed a tremendous success, attracting both local and international investors to explore the country's untapped potential. In the first four months of the calendar year 2022, startups in all sectors of the economy raised 203.5 million dollars. Previously, startups raised more than $350 million in 2021, which was more than they raised over the previous six years combined. Abhi and SadaPay enticed attention globally. Bloomberg reported that a Pakistani startup, Abhi Pvt., attracted funding at a valuation of $90 million within a year of launching. To enable employees to access their accrued salaries in advance, Abhi, Pakistan's first financial wellness platform, announced successfully raising $17 million in Series A funding. An international venture capital firm, Speedinvest, led the fundraising, with participation from Global Ventures, VentureSouq, VEF, Sturgeon Capital, Rallycap, and FJ Labs. Fatima Gobi, Sarmayacar, and i2i Ventures were also participating as regional Venture Capital firms and existing investors. In 2021, Omair Ansari and Ali Ladhubhai began Abhi, intending to eliminate financial stress for employees by helping them meet their financial obligations without falling into debt traps. The platform involves zero costs for employers - so there is no impact on their payroll cycle or cash flow. According to Omair Ansari, chief executive officer of Abhi, "The company is delighted to announce this $17 million funding round, particularly in light of the caliber of investors involved. Our platform, business model, and the hard work of our team earned Speedinvest's backing, along with that of other leading venture capital firms. Since our inception in July 2021, we have experienced rapid growth, and our momentum has led to significant B2B opportunities." SadaPay, another fintech startup, raised funds during its extended seed round. SadaPay claims to have raised $10.7 million to deliver financial services and become a fully licensed Electronic Money Institution (EMI). Recharge Capital, Kingsway Capital, and Raptor Group, the company's previous investors, have significantly increased their investments in anticipation of raising Series-A funding later this year. Earlier this week, the State Bank of Pakistan gave SadaPay the go-ahead for commercial launch. This will enable SadaPay to achieve public rollout and "onboard users in order of their waitlist position." Brandon Timinsky founded the startup (SadaPay) in 2019 with the goal of simplifying the complexities of banking, which are intimidating for the average Pakistani. The goal is to make money so simple that any other approach would become unthinkable, said Timinsky. According to SadaPay's Chief Operating Officer, Omer Salimullah, the company has over 500,000 people on its waiting list. Omer said it is an impossible logistical challenge to print and send out 500,000 debit cards in one day.