Qashio, a UAE-based fintech and corporate spend management platform, has acquired Sanad Cash, one of Saudi Arabia’s earliest expense management companies, for an undisclosed amount.
The deal accelerates Qashio’s expansion into the Kingdom, combining its spend management technology with Sanad Cash’s local expertise. The acquisition comes shortly after Qashio raised approximately $19.8 million in fresh funding in May.
“Sanad Cash brings invaluable local knowledge and a trusted client base. Combined with Qashio’s technology and focus on exceptional user experience, we are now delivering the most advanced spend management solution in the region,” said Armin Moradi, Founder and CEO of Qashio.
Mahmoud Iswaid, Co-Founder and CEO of Sanad Cash, added: “This acquisition reflects the growing maturity and consolidation of the market and our shared commitment to empowering Saudi businesses with world-class financial technologies. Together, we’re building a unified platform that enhances transparency and supports the Kingdom’s vision for a cashless, innovation-driven economy.”
The acquisition will also allow Saudi clients to access Qashio’s international infrastructure across the EU, UK, and UAE.
To support its expansion, Qashio is launching a recruitment drive for more than 120 roles across Europe, Jordan, the UK, Dubai, Abu Dhabi, and Saudi Arabia over the next six months.
