Qashio, a UAE FinTech startup, raises $10 million in a seed round. The funding round was supported by global investors such as One Way Ventures, MITAA, Cadorna Ventures, as well as regional investors such as Sanabil 500 MENA, Nuwa Capital, Iliad Partners, Phoenix Investments, and strategic family offices and angels.
This funding round will enable Qashio to expand hiring and growth into Saudi Arabia and other parts of the GCC as well as accelerate the execution of its product roadmap.
“Saudi Arabia is making great efforts to align with its Vision 2030; taking fintech-friendly approaches and bringing more fintech firms into the market. At Qashio, we are proud to be an integral part of propelling a cashless society in the UAE and now KSA. We are committed to helping companies move away from all those manual finance processes and get more visibility and control by providing a secure, safe solution that is ready for enterprise-grade deployment as well as SMEs,” Armin Moradi, CEO and co-founder of Qashio, stated.
Founded in 2021 by Jonathan Lau and Armin Moradi, Qashio issues employee corporate cards programmatically and has a spend management platform that enables business owners and finance leaders full visibility and control of all expenses.
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