- Qashio raised USD 19.8M in equity and non-equity to expand its B2B spend management platform across the MENA region.
- The round included Rocketship, ABN Ventures, and MENA family offices, plus banks and Luxembourg’s MoreThan Capital.
- Qashio will scale its loyalty program, grow in Saudi, and boost compliance with new funding in hand.
Qashio
What happened? UAE-based fintech Qashio just secured USD 19.8 million in its latest funding round, a mix of equity and non-equity financing.
The round was led by Rocketship.vc, a Silicon Valley-based VC, alongside ABN Ventures, MITAA, and Oneway VC. New investors also joined, including MoreThan Capital, major MENA banks, and regional family offices.
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What is next? The company plans to enter the Saudi market, enhance its regulatory compliance, and expand its presence across the MENA region. A portion of the funding will also support the growth of its fintech-enabled loyalty program targeting corporate clients.
B2B Spend Management
Who are they? Founded in 2021 by Armin Moradi, Qashio offers B2B spend solutions such as smart corporate cards and embedded finance tools. Its tools cater to sensitive, high-volume sectors like legal, consulting, hospitality, government, and retail.
Previously, Qashio raised USD 10 million in a seed round to expand hiring and growth into Saudi and the GCC.
Why does this matter? Many companies in MENA still rely on manual and fragmented spend management processes. Qashio aims to digitize and streamline this area. The company reports strong revenue growth over the past three years and recently reached profitability in Q1. Moreover, it currently serves users in 22 markets, including the UAE, UK, and Europe.
Bottom Line: Qashio’s latest funding highlights growing investor interest in digital spend management solutions.
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