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Qashio
[edit]Qashio is a Dubai-based financial technology company that provides corporate spend management and corporate card solutions for businesses in the Middle East and North Africa (MENA) region.The company was co-founded by Armin Moradi[1]
History
[edit]Qashio was founded to address a gap in financial management faced by companies in the Gulf Cooperation Council (GCC) region, namely the lack of visibility and control businesses had over their corporate spending.[1]
The company stated that its platform passed Dh1 billion (approximately US$272 million) in cumulative transaction volume, describing it as the first spend management provider in the MENA region to reach the milestone.[2]
In 2025, Qashio acquired Saudi fintech company Sanad Cash as part of its expansion into Saudi Arabia. The acquisition combined Qashio's spend management platform with Sanad Cash's local operations to serve Saudi businesses.[3][4][5]
Qashio subsequently opened its European headquarters in Dublin, Ireland. The Dublin office includes a research and development unit known as Qashio Labs.[6]
Products and services
[edit]Qashio operates a business-to-business (B2B) spend management platform that includes corporate card issuance alongside tools for tracking and managing company expenditure.[7][4]
In partnership with Dubai Chambers, Qashio launched the "Qashio For You" initiative aimed at supporting small and medium-sized enterprises (SMEs).[8]
Funding
[edit]In 2025, Qashio raised US$19.8 million through a combination of equity and non-equity financing. The funding round was led by Rocketship VC with participation from MoreThan Capital, regional banks and family offices. The company stated that the proceeds would support its expansion into Saudi Arabia and the wider MENA region.[9][7][10]
The funding followed an earlier US$10 million seed round.[9]
Alinma Bank later announced a strategic investment in Qashio to support the development of corporate spend management solutions in Saudi Arabia.[11]
Business operations
[edit]Following its acquisition of Sanad Cash, Saudi Arabia became a primary focus of Qashio's regional expansion strategy.[3][4]
The opening of the Dublin office marked the company's entry into the European market and houses the Qashio Labs research and development unit.[6]
Partnerships
[edit]Qashio partnered with Visa to introduce the Visa Commercial Choice Travel programme in the region, targeting online travel agencies across the UAE, MENA, Europe and the United Kingdom.[12]
Qashio also partnered with Dubai Chambers to launch the "Qashio For You" initiative for SMEs.[8]
Alinma Bank's strategic investment in Qashio formed part of a partnership to develop corporate spend management solutions in Saudi Arabia.[11]
References
[edit]- ^ a b "Jonathan Lau and Armin Moradi Are Dreaming Big With Their Fintech Startup, Qashio". Entrepreneur Middle East. Entrepreneur Middle East. Retrieved 8 July 2026.
- ^ "Qashio becomes MENA's first spend management to pass Dh1b mark in transaction volume". Gulf News. Gulf News. Retrieved 8 July 2026.
- ^ a b "UAE fintech giant Qashio acquires Sanad Cash to fast-track Saudi expansion". Gulf News. Gulf News. Retrieved 8 July 2026.
- ^ a b c "UAE-based Qashio acquires Saudi fintech Sanad Cash to accelerate regional expansion". Arab News. Arab News. Retrieved 8 July 2026.
- ^ "Qashio expands into Saudi Arabia with strategic Sanad Cash takeover". Sharikat Mubasher. Mubasher. Retrieved 8 July 2026.
- ^ a b "Qashio marks European expansion with new Dublin HQ launch backed by UAE and Irish ministers". The Fintech Times. The Fintech Times. Retrieved 8 July 2026.
- ^ a b "Fintech Platform Qashio Secures $19.8M In Its Latest Funding Round". Forbes Middle East. Forbes Middle East. Retrieved 8 July 2026.
- ^ a b "Qashio, Dubai Chambers Roll Out AED10 Million SME Push". Entrepreneur Middle East. Entrepreneur Middle East. Retrieved 8 July 2026.
- ^ a b "Dubai fintech Qashio raises $19.8 million in debt and equity to expand its spend management platform into Saudi". MENAbytes. MENAbytes. Retrieved 8 July 2026.
- ^ "UAE fintech firm Qashio bags $19.8m to expand in MENA region". Tech in Asia. Tech in Asia. Retrieved 8 July 2026.
- ^ a b "Alinma Bank partners with Qashio to revolutionise corporate spend management in MENA". Gulf News. Gulf News. Retrieved 8 July 2026.
- ^ "Qashio and Visa partner to digitise and transform travel payments for online travel agencies". Gulf News. Gulf News. Retrieved 8 July 2026.