Company Market Research Report: Qashio

Company Overview

Name

Qashio

Mission

To simplify and automate business spend management, making it easier for finance and HR departments to control expenses and cash flow.

Founded

2021

Founders

Armin Moradi

Jonathan Lau

Key People

Armin Moradi: Co-founder & CEO

Jonathan Lau: Co-founder

Eric Menorval: Chief Technology Officer

Lydia Foote: Executive (Talabat)

Ed Hartung: Executive (Oracle)

Headquarters

Dubai, United Arab Emirates

Number of Employees

Approximately 20 employees (as of the latest data)

Revenue

No information is available

Known For

Providing the MENA region's first multi-level spend management software and corporate card solutions enabling real-time visibility and control over company expenses.

Products

What Products Do They Offer

Qashio Corporate Cards

Expense Management Software

Product Descriptions & Key Features

Qashio Corporate Cards

Type: Virtual and Physical Corporate Cards

Key Features:

Instant issuance of unlimited corporate cards

Complete control by the issuing company

Setting of budgets by week or month

Vendor/category usage restrictions

Limiting ATM withdrawals

Real-time tracking of business expenses

Prevention of fraudulent transactions

Expense Management Software

Type: Expense Tracking and Financial Control Software

Key Features:

Automated expense reporting

Enhanced visibility of cash flows

Integration with popular ERP systems (e.g., QuickBooks, NetSuite)

Real-time updates and controls

Customizable approval workflows

Receipts submission via WhatsApp

Recent Developments

New Products Launched

Qashio has expanded its product offerings to include a comprehensive Bill Pay solution, aimed at digitizing and automating accounts payable processes (targeting a launch in the UAE and Saudi markets).

New Features Added

Continued enhancement of their platform with integrations to ERP and messaging services, specifically adding support for Slack.

Upgraded security features and fraud detection mechanisms.

New Partnerships

Partnership with Emirates Skywards to offer rewards on corporate spending.

Secured $2.5M in pre-seed funding in 2022 from investors including MSA Novo, Rally Cap Ventures, Palm Drive Capital, Plug and Play Ventures, and strategic angels from major corporations such as Grubtech, Danske Bank, Two Sigma, and Xiaomi.

Partnered with CredibleX to enhance embedded finance options for SMEs, launching "Qashio Financing."

Achievements

Awarded "Fintech of the Year" by Gulf Capital and recognized as the #1 e-payment solution by Entrepreneur MENA.

Raised €2.4 million as part of a funding round aimed at expanding in the MENA region.

Market Expansion

Commenced operations in Saudi Arabia, with planned expansions into GCC countries and Egypt.

Emphasis on scaling product offerings while simultaneously focusing on improving customer acquisition and market penetration.

Clientele

Supported hundreds of companies including notable names like Kitopi, EFS, Saif Belhasa, Instashop, and Alabbar Enterprises.

Customer Feedback

Received positive integrations feedback, particularly for eliminating manual reconciliations and improving financial controls.

Conclusion

Qashio has proven to be a pioneering force in MENA's fintech space by addressing critical pain points in corporate expense management with their innovative solutions. Their ongoing partnerships and relentless focus on product enhancement are poised to provide them significant growth opportunities within the regional and global markets.