- UAE-based fintech Qashio, the UAE’s leading corporate spend management platform, announced the acquisition of Saudi Arabia’s Sanad Cash for an undisclosed value.
- The acquisition strengthens Qashio’s expansion into Saudi Arabia, aligning with its long-term commitment to regional fintech growth and the Kingdom’s Vision 2030 digital economy goals.
- The deal merges Qashio’s spend management technology with Sanad Cash’s local expertise, enabling Saudi enterprises to manage corporate expenses and cards via a fully localised, compliant platform.
Press release:
Qashio, the UAE’s leading corporate spend management platform, today announced its acquisition of Sanad Cash, one of Saudi Arabia’s first and most established expense management solutions. This landmark deal marks a major leap in Qashio’s growth into the Kingdom of Saudi Arabia (KSA) and reinforces its long-term commitment to the region.
The acquisition combines Qashio’s industry-leading spend management technology with Sanad Cash’s deep local expertise, enabling Saudi businesses to access a fully localised, compliant, and seamless platform for managing corporate expenses and cards. The two market leaders joining forces will also enable Saudi clients to expand globally through Qashio’s international presence in the EU, the UK, and the UAE. This strengthens Qashio’s position as the region’s most comprehensive and only international spend management solution for businesses.
“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. “The acquisition of Sanad Cash by Qashio represents a major leap forward for the Saudi fintech landscape. It reflects the growing maturity and consolidation of the market and our shared commitment to empowering Saudi businesses with world-class financial technologies. Together, we are building a unified platform that simplifies how companies manage spending, enhances financial transparency, and supports the Kingdom’s vision for a cashless, innovation-driven economy,” said Mahmoud Iswaid, Co-Founder and CEO of Sanad Cash.
The move is designed to fuel Qashio’s expansion into Saudi Arabia. By combining forces, Qashio will offer enhanced localised features, streamlined regulatory compliance, and unmatched rewards for Saudi enterprises, which are increasingly shifting towards digital payments in line with the Kingdom’s Vision 2030 for a digital society. Existing Qashio clients will be able to get locally issued cards in KSA.
To support this major growth phase, Qashio is launching an extensive recruitment drive. The company currently has over 120 open positions across multiple functions to be filled within the next six months, reflecting its global ambitions. These new roles will be distributed across key operational and expansion markets, including Europe, Jordan, the UK, Dubai, Abu Dhabi, and KSA.
With this acquisition and expansion, Qashio continues its mission to transform how companies across MENA and beyond manage their finances, driving efficiency, visibility, and rewards on every transaction.