Latest news with #ABNVentures
CairoScene
29-05-2025
- Business
- CairoScene
Dubai-based Fintech Qashio Secures $19.8M to Fuel Saudi Market Entry
Founded in 2021 by Armin Moradi, Qashio offers tailored corporate cards and embedded financial services for various businesses. May 29, 2025 Dubai-based B2B spend management platform Qashio has raised $19.8 million in a new funding round of equity and debt. The round was led by Silicon Valley firm Rocketship, with continued support from ABN Ventures, MITAA, Oneway VC, and new strategic backers such as Luxembourg's MoreThan Capital, undisclosed MENA banks, and regional family offices. Founded in 2021 by Armin Moradi, Qashio offers tailored corporate cards and embedded financial services for businesses in sectors like legal, consulting, government, and e-commerce. The company plans to use the funds to expand geographically, roll out its fintech loyalty program across MENA, and enhance regulatory compliance ahead of its Saudi Arabia launch. With operations in 22 markets including the UAE, Europe, and the UK, Qashio reports over 800% year-on-year revenue growth for three consecutive years and a recent quarterly profit of $1.2 million, according to Wamda. The funding comes amid a regional fintech boom, as MENA startups raised $1.5 billion in Q1 2025—driven largely by fintech firms capturing over $1 billion across 36 deals.
Zawya
28-05-2025
- Business
- Zawya
Dubai fintech Qashio secures $19.8mln from US, MENA investors
Dubai-based fintech company Qashio has secured $19.8 million in equity and non-equity financing. The new investment round was led by Rocketship, an early-stage venture fund based in California, and participated by Oneway VC, ABN Ventures, MITAA and other investors, including family offices and banks in the Middle East and North Africa (MENA) region. Founded in 2021, Qashio operates a platform that helps businesses manage expenses and payments with integrated corporate cards and accounts payable automation. The new funding is expected to help expand the company's business across the GCC and beyond. (Writing by Cleofe Maceda; editing by Seban Scaria)
Fintech News ME
28-05-2025
- Business
- Fintech News ME
Qashio Raises $19.8M to Fuel MENA and Saudi Expansion
Dubai-based business-to-business (B2B) spend management platform Qashio has secured US$19.8 million in its latest funding round, comprising both equity and non-equity financing. The round was led by existing investor Rocketship, a Silicon Valley-based venture capital firm, with further participation from ABN Ventures, MITAA, and Oneway VC. New strategic investors, including Luxembourg's MoreThan Capital, major banks in the MENA region, and regional family offices, also took part. Forbes Middle East reports that the funding will support Qashio's geographic expansion, the scaling of its fintech loyalty programme across the region, and efforts to enhance regulatory compliance ahead of its planned entry into Saudi Arabia. Qashio, founded in 2021 by Armin Moradi, provides B2B spend management solutions, including customised corporate cards and embedded financial services. Its offerings are tailored for sectors such as legal, consulting, government, travel, hospitality, retail, and high-volume e-commerce. The company previously raised US$10 million in a seed round. It reports having achieved over 800% year-on-year revenue growth for three consecutive years and recorded a first-quarter profit of more than US$1.2 million. The platform currently serves thousands of daily users across 22 markets, including the UAE, Europe, and the UK, with Saudi Arabia next on its roadmap.
