Qashio, the UAE’s main company spend administration platform, acquired Sanad Money, certainly one of Saudi Arabia’s first and most established expense administration options. This landmark deal marks a serious milestone in Qashio’s progress into the Kingdom of Saudi Arabia (KSA) and reinforces its long-term dedication to the area.
The acquisition strategically combines Qashio’s industry-leading spend administration know-how with Sanad Money’s deep native experience. The unified entity will ship a totally localised, compliant, and seamless platform for managing company bills and playing cards to Saudi companies. Moreover, the consolidation enhances Qashio’s standing because the area’s most complete and solely worldwide spend administration resolution, enabling Saudi purchasers to broaden globally via Qashio’s worldwide presence within the EU, UK, and UAE.
Driving market consolidation and digitalisation
The transfer aligns with Saudi Arabia’s Imaginative and prescient 2030 for a digital society, supporting enterprises which are more and more shifting towards digital funds. By combining forces, Qashio will provide enhanced localised options, streamlined regulatory compliance, and unmatched rewards for Saudi enterprises. Current Qashio purchasers can even profit from having the ability to acquire domestically issued playing cards in KSA.
Armin Moradi, founder and CEO of Qashio, highlighted the synergistic worth of the deal. “Sanad Money brings invaluable native information and a trusted shopper base. Mixed with Qashio’s know-how and deal with distinctive consumer expertise, we are actually delivering essentially the most superior spend administration resolution within the area,” Moradi stated.
Mahmoud Iswaid, co-founder and CEO of Sanad Money, views the deal as an indication of market maturity. “The acquisition of Sanad Money by Qashio represents a serious leap ahead for the Saudi fintech panorama. It displays the rising maturity and consolidation of the market, and our shared dedication to empowering Saudi companies with world-class monetary applied sciences,” Iswaid commented. He added that the unified platform enhances monetary transparency and helps the Kingdom’s imaginative and prescient for a cashless, innovation-driven financial system.
International ambitions gasoline recruitment drive
To help this main progress section throughout its operational and growth markets—together with Europe, Jordan, the UK, Dubai, Abu Dhabi, and KSA—Qashio is launching an in depth recruitment drive. The corporate at present has over 120 open positions throughout a number of capabilities to be stuffed throughout the subsequent six months.
This acquisition and subsequent growth reinforce Qashio’s mission to rework how firms throughout MENA and past handle their funds, driving effectivity, visibility, and rewards on each transaction. Qashio’s platform offers companies real-time visibility and management over firm funds via sensible company playing cards with customized spending limits.
