Latest news with #Rocketship
New Paper
11-06-2025
- Sport
- New Paper
Candy Rain and Rocketship are all girl power
It was certainly not a good morning for four of the runners in the second of three trials run off at Sungai Besi on June 10. The quartet was left stranded when Candy Rain and Rocketship cleared away to make it an "all-girls" affair over the flying 1,000m. In the end, Candy Rain, a daughter of Manhattan Rain, brushed aside the late challenge from Rocketship, a daughter of Into Mischief, to win by a short head. There was a whiff of drama at the start when Summer Wind stole the attention from the ladies when he dislodged apprentice Akmazani Mazuki at barrier rise and continued on his way riderless. As for the rest - Sabah Star, Pacific Armani and Limitless Warrior - it was a beating they would surely like to forget. Then again, the way the trial transpired, they were never in the hunt. Right from the get-go, Candy Rain and Rocketship had the stage all to themselves. As seven-year-olds, both still showed that they possessed an excellent turn of hoof and they ran like they were off to the prom. Candy Rain and Rocketship were at the trials by order of the racing stewards after returning lame in their last races, in which they both finished down the course. Candy Rain ran eighth to Pacific Soldier on May 25 while Rocketship finished a dismal 10th to Paletas in another race on the same day. Thus, the mandatory test - which both passed with flying colours. With the test done and dusted, the way is cleared for them to resume racing - which must be good news to trainers Frank Maynard (Candy Rain) and Nick Selvan (Rocketship). Though both their runners are getting long in the tooth, they can still up the stakes when the situation calls for it. Another conditioner who would have felt good on the morning of June 10 was Richard Lim, after Elite Titan won the third trial. A four-year-old who has had three race starts, Elite Titan did not do it in the styIe of Candy Rain and Rocketship. Instead, he was in "stalk and strike" mode, allowing Good Start, Lucky Warrior and Solid Eighty-Three to fight it out up front. Racing in blinkers, Elite Titan decided to join the party at the furlong mark - making it a line of four heading for the finish. He then opened up in style to win by a healthy two lengths and in a time of 1min 1.17sec. Solid Eighty-Three from Ananthen Kuppan's yard stayed on for second, with trainer Mahadi Taib's Good Start taking third. A son of Merchant Navy, Elite Titan arrived at Lim's Kuala Lumpur yard on Dec 21 after having won a 1,200m race in Australia. He has, to date, had three starts at Sungai Besi, giving a glimpse of what it is shaping up to be when he ran third to Our Secret Weapon on May 17. He was sent off as the second pick when Lim backed him up in a 1,400m race on May 25, but he did not live up to their confidence. Despite a strong ride from Shafiq Rizuan, he managed to finish only fifth in that race won by Platinum Glory. However, and from what he showed at the just-concluded trial, he is better than that and that elusive first Malaysian win could come sooner rather than later. As for Solid Eighty-Three and Good Start - second and third in that trial - they will see action in Races 2 and 7 respectively on June 15. Accord them some respect. brian@
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
UAE-born global fintech Qashio raises $19.8mln to scale regional expansion and B2B loyalty ecosystem
Dubai, UAE: Qashio, the Dubai-headquartered B2B spend management platform with operations and clients in 22 countries, including the UAE, Europe, the UK, and soon Saudi Arabia, has raised $19.8 million in its latest funding round. The capital will support further geographic expansion and scale what is already the largest B2B fintech loyalty program in the MENA region. Despite achieving profitability with over $1.2M in Q1 2025, the additional funds will enhance regulatory compliance ahead of the company's entry into Saudi Arabia and further extend its differentiated loyalty offering. Unlike typical cashback programs, Qashio's impressive Tier 1 partner network includes Emirates, Air France, KLM, Avios (British Airways, Iberia, Finnair), US Airways, and top hotel groups such as Jumeirah One, Accor, and IHG Intercontinental Hotel Group—benefits often unavailable to businesses through other expense management platforms. Category-Defining Momentum with a Superior and Scalable Product Suite The fundraising round, which consists of both equity and non-equity financing, was led by existing investor Rocketship, a Silicon Valley-based venture capital firm. 'We invested in Qashio because of their bold vision to modernize spend management in the Middle East, a region ripe for financial innovation. Their rapidly growing customer base positions them as a category-defining company in the GCC's digital transformation journey. We're proud to back a team that's not just solving a pain point, but transforming how companies across the region operate and grow' said Sailesh Ramakrishnan - Managing Partner at Rocketship. With over 800% YoY revenue growth for the third consecutive year, Qashio has proven its ability to scale with discipline. Several existing investors have reaffirmed their confidence by following on their previous commitments such as ABN Ventures, MITAA, and Oneway VC. The round also welcomed new strategic investors, such as Luxembourg-based European fund MoreThan Capital, major regional banks in MENA, and regional family offices from each market. 'MoreThan Capital chose to invest in Qashio due to its exceptional growth trajectory since launching from beta in 2022, its seasoned founding team, and its superior product suite —which is both broader and more advanced than regional competitors. Qashio's relentless innovation aligns with our vision, and we see tremendous potential in their MENA expansion strategy as well as their international ambitions. Their unique value proposition positions them strongly for success in the MENA as well as European market, and we're excited to support their journey with 'more than' capital" says Caroline Kracht - Managing Partner at MoreThan Capital. Supporting Finance Teams and SMEs with Industry-Focused Solutions Qashio has invested heavily in developing purpose-built products that support the financial health of its clients, from SMEs with five employees to global enterprises with strict compliance and security requirements, Qashio caters to them all. Its solutions are tailored to each industry, with custom offerings that reflect local and vertical-specific requirements. For firms with highly sensitive operations such as law practices, consulting firms, and government entities, as well as specialized sectors like travel, hospitality, retail, and high-volume e-commerce companies, Qashio offers customized corporate cards and embedded financial microservices to support operational efficiency. 'At Qashio we have learned that change often comes with resistance. We are committed to helping the companies that place their trust in us move away from the manual finance processes that slow them down. That's why we built and continue to evolve our loyalty program—to reward the right behavior with incentives such as air miles and hotel points that are otherwise difficult to obtain. We also offer the lowest cross-border fees and the highest cashbacks delivered transparently without lockdown periods and clawbacks, because every business drives behavior in their own way,' says Armin Moradi, CEO and Co-founder of Qashio. About Qashio Qashio is the largest and most comprehensive expense management platform in the region, operating with a global footprint. It is the first and only expense management company in MENA with an in-house-built loyalty program, and currently operates the largest B2B loyalty ecosystem in the region. With specialized cards designed for industry-specific use cases and embedded financial microservices, Qashio maintains its leadership position as both market leader and category pioneer. Founded in Dubai in 2021, the company now serves thousands of users daily across 22 countries with locally issued cards in each region and also provides multi-currency cards for certain industries within the UAE.
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.
