UAE-based fintech firm Qashio has raised US$19.8 million in a funding round that included both equity and non-equity financing.
The round was led by existing investor Rocketship VC and included participation from MoreThan Capital, regional banks, and family offices.
Founded in 2021, Qashio offers a spend management platform that helps businesses monitor and control expenses.
The company plans to use the new funds to expand into Saudi Arabia and enhance its B2B loyalty program across the MENA region.
This funding follows a US$10 million seed round raised by Qashio in 2022.
The company operates in 22 countries and reported profitability in the first quarter of 2025, with earnings exceeding US$1.2 million.
🔗 Source: Qashio
