Riyadh – Sharikat Mubashe: UAE-based fintech firm Qashio announced acquiring Saudi expense management startup Sanad Cash, marking a major step in its expansion across the Kingdom and reinforcing its regional leadership in corporate spend management solutions.
As per the company’s announcement on LinkedIn, this acquisition integrates Qashio’s advanced digital payment technology with Sanad Cash’s deep local expertise, creating a fully compliant platform for Saudi enterprises.
The move enables businesses in the Kingdom to issue locally regulated corporate cards and streamline expense management, aligning with Saudi Vision 2030’s push toward a cashless, digital economy.
Qashio said it plans to add more than 120 new hires across Saudi Arabia, the UAE, Europe, Jordan, and the UK over the next six months as part of its growth strategy.
By combining Sanad Cash’s local footprint with Qashio’s international reach, the merged entity aims to deliver smarter automation, stronger compliance, and new financial products tailored to Saudi corporates, cementing Qashio’s position as one of the region’s fastest-growing fintech innovators.
Back in May, Qashio secured $19.8 million in funding round combining equity and non-equity financing led by returning investor Rocketship VC, with participation from ABN Ventures, MITAA, and Oneway VC.
