{"id":104148,"date":"2025-05-29T00:00:00","date_gmt":"2025-05-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dubais-qashio-secures-usd-19-8-mn-for-saudi-entry\/"},"modified":"2025-05-29T00:00:00","modified_gmt":"2025-05-29T00:00:00","slug":"dubais-qashio-secures-usd-19-8-mn-for-saudi-entry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/dubais-qashio-secures-usd-19-8-mn-for-saudi-entry\/","title":{"rendered":"Dubai's Qashio secures USD 19.8 mn for Saudi entry"},"content":{"rendered":"

Dubai<\/strong>-based B2B spend management platform Qashio has secu<\/strong>red USD 19.8 mn <\/strong>in funding <\/strong>to fuel its expansion into Saudi Arabia and across the region, according to a press release<\/a>. The round combined equity and non-equity financing and was led by existing investor Rocketship, a Silicon Valley-based venture capital firm. Other participants included ABN Ventures<\/a>, MITAA, Oneway VC<\/a>, and Luxembourg\u2019s MoreThan Capital<\/a>, as well as MENA banks and family offices.<\/p>\n

Where will the funds go?<\/strong> The capital will fund geographic growth and scale its MENA-region B2B fintech loyalty program. The funds will also support regulatory compliance for a planned Saudi market entry. Qashio operates in 22 countries, including the UAE, Europe, and the UK.<\/span><\/p>\n

About Qashio: <\/strong>Qashio<\/a> serves SMEs and enterprises across industries, offering corporate cards and embedded financial microservices tailored to sectors like law, consulting, government, travel, hospitality, retail, and e-commerce. Qashio issues local cards in each operating region and multi-currency cards for specific UAE industries. It achieved profitability in 1Q 2025, and has partnered with Visa<\/a> on B2B travel payments and joined Abu Dhabi\u2019s global tech Hub71 ecosystem<\/a>. The fintech raised a USD 10 mn seed round in 2022. <\/p>\n

OTHER STARTUP NEWS- <\/p>\n

Abu <\/strong>Dhabi-based<\/strong> Vault Wealth<\/a><\/strong> has launched its digital private wealth platform target<\/strong>ing high-net-worth-individuals in MENA<\/strong>, according to a press release<\/a>.The launch comes alongside a funding round led by Peak XV (formerly Sequoia Capital India & SEA), with backing from Outliers VC. This marks Peak XV\u2019s first MENA play in wealthtech.<\/p>\n

Vault Wealth? <\/strong>Licensed by ADGM\u2019s Financial Services Regulatory Authority (FSRA) since mid-2023, Vault offers financial planning, automated portfolio management, and access to global markets to high-net-worth individuals.<\/p>\n","protected":false},"excerpt":{"rendered":"

The round will also fund Qashio\u2019s loyalty program growth<\/p>\n","protected":false},"author":1,"featured_media":104149,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[7,79,138,78,147],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-104148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam-uae","tag-fintech","tag-qashio","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"a9305afe-f8be-4ea5-a44f-1630b8dd09a7","order":"12","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/2415.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dubai's Qashio secures USD 19.8 mn for Saudi entry","related_issue":[104126],"teaser":"The round will also fund Qashio\u2019s loyalty program growth","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.aeec0677-6ad8-4116-a2f7-6fa41d056629.mp3"},"yoast_head":"\nDubai's Qashio secures USD 19.8 mn for Saudi entry - 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