Digital finance in the Middle East is moving fast, and business spend is a major focus. As companies grow and regional markets mature, there’s rising demand for tools that make expense control, compliance, and corporate payments more efficient.
Enter Qashio, a Dubai-based FinTech start-up. In May 2025, the company secured $19.8 million in funding from Rocketship.vc, ABN Ventures, MITAA, Oneway VC, MoreThan Capital, several MENA banks, and regional family offices.
The capital will power Qashio’s expansion into Saudi Arabia, while accelerating the growth of its B2B FinTech platform built to modernise corporate spend management across the region.
Why Qashio? Smart solutions for business spending
Qashio’s product focus is squarely on business-to-business (B2B) FinTech, a fast-growing but underserved market segment. Unlike consumer FinTech apps, Qashio offers companies smart corporate cards, spend control software, and automated workflows to simplify expense management and improve compliance.
Currently, Qashio operates in 22 markets worldwide, including Europe and the UK, boasting an impressive 800% year-on-year revenue growth for the past three years. Their expansion into MENA’s largest economies will build on this momentum, catering to businesses seeking digital tools to manage complex financial operations efficiently.
Riding the wave of FinTech investment in MENA
MENA’s FinTech sector is booming. In the first quarter of 2025 alone, start-ups raised a record $1.5 billion — a 244% increase from Q1 2024. Fintech accounted for more than two-thirds of this investment, highlighting its dominance and potential in the region.
This funding surge is driven by rising demand for digital payments, corporate finance automation, and regulatory reforms encouraging cashless transactions. Governments in the UAE, Saudi Arabia, and other Gulf states actively promote FinTech as part of their economic diversification strategies under plans like Saudi Vision 2030.
Strategic implications for MENA’s digital economy
Qashio’s growth highlights a shift in the region’s FinTech narrative — from consumer apps to sophisticated B2B solutions powering corporate finance. These technologies enable businesses to:
- Automate expense reporting
- Enforce spending controls and compliance
- Optimise cash flow and financial transparency
This shift is vital for MENA’s rapidly digitising economy, where companies require scalable FinTech tools to compete globally and comply with evolving regulations.
Challenges on the road ahead
Despite the optimism, MENA FinTech firms face hurdles: fragmented regulations, varying market readiness, and cross-border compliance complexities. Successfully navigating these will require adaptive strategies and local partnerships.
Qashio’s strong investor backing, coupled with ties to major banks, provides it a competitive edge to tackle these challenges and set new standards for FinTech innovation in the region.
Looking forward: The future of FinTech in MENA
Qashio’s trajectory offers a clear signal: MENA FinTech start-ups can compete on the global stage by blending local market understanding with international expertise.
The sector’s growth is set to continue, boosted by advances in AI, blockchain, and cloud technology, all integrated into FinTech platforms that empower businesses and transform financial ecosystems.
Join the conversation at Date with Tech
Want to explore how FinTech innovations like Qashio’s are reshaping MENA’s digital finance landscape?
Date with Tech is your opportunity to connect with the region’s top investors, founders, and policymakers driving the FinTech revolution.
Join us in Dubai this November and Saudi Arabia this December to hear first-hand from the people shaping the future of finance and technology in MENA.
