UAE-headquartered fintech business, Qashio has entered the MENA market on a strong note by raising $2.5 million in its pre-Seed funding. Qashio’s enterprise-grade expense management platform enables business owners and finance leaders full visibility and control of all expenses.

Their dashboard integrates real-time tracking for every business expense and allows enterprises and SMEs to make informed cash flow decisions. The pre-seed funding round is led by global VC firm, MSA Novo (over $1.5bn AUM), and supported by Rally Cap Ventures, Palm Drive Capital, Plug and Play Ventures, as well as regional strategic angels, entrepreneurs, and family offices. Executives from Grubtech, Danske Bank, Two Sigma, Xiaomi, and top global fintech companies participated in the round as well.

Jonathan Lau and Armin Moradi, co-founders of Qashio commented, “Businesses in the MENA region have been operating with limited ability to issue cards and manage employee expenses. At Qashio, we are committed to helping companies move away from all those manual finance processes and get more visibility and control by providing a secure, safe solution that is ready for enterprise-grade deployment as well as SMEs.”
“We are committed to having clear, easy and fast onboarding processes for brands with no long-term commitments or heavy monthly service fees” – Armin Moradi, CEO, Qashio.

The funding will be used to expand the operations team and customer support, evolve the current features and integrations with additional fintech partners and rewards programmes.