UAE-based fintech Qashio raises $10mln

UAE-based fintech Qashio raises $10mln

Dubai, UAE: UAE-headquartered fintech Qashio has raised $10 million in a seed round, with participation from strategic international and regional investors to accelerate expansion into the Kingdom of Saudi Arabia.

The seed funding round is supported by global investors such as One Way Ventures (early investors in Brex), 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. The round consists of both equity and non-equity financing.

Founded in 2021 by seasoned serial entrepreneurs with multiple successful exits, Jonathan Lau and Armin Moradi, Qashio is the first fintech in UAE history to issue employee corporate cards programmatically. Its enterprise-grade spend management platform enables business owners and finance leaders full visibility and control of all expenses. Their dashboard integrates real-time tracking for every business expense and allows enterprises and SMEs to make informed cash flow decisions.

Lex Zhao, Partner at One Way Ventures commented, "The co-founders Armin and Jonathan are a unique combination of deep ERP expertise and have a demonstrated track record of building world-class software products. We're excited and grateful to join this round and to share our experience as early investors in Chipper Cash and Brex.”

Qashio