Qashio, the UAE’s leading corporate spend management platform, acquired Sanad Cash, one of Saudi Arabia’s first and most established expense management solutions. This landmark deal marks a major milestone in Qashio’s growth into the Kingdom of Saudi Arabia (KSA) and reinforces its long-term commitment to the region.
The acquisition strategically combines Qashio’s industry-leading spend management technology with Sanad Cash’s deep local expertise. The unified entity will deliver a fully localised, compliant, and seamless platform for managing corporate expenses and cards to Saudi businesses. Furthermore, the consolidation enhances Qashio’s standing as the region’s most comprehensive and only international spend management solution, enabling Saudi clients to expand globally through Qashio’s international presence in the EU, UK, and UAE.
Driving market consolidation and digitalisation
The move aligns with Saudi Arabia’s Vision 2030 for a digital society, supporting enterprises that are increasingly shifting toward digital payments. By combining forces, Qashio will offer enhanced localised features, streamlined regulatory compliance, and unmatched rewards for Saudi enterprises. Existing Qashio clients will also benefit from being able to obtain locally issued cards in KSA.
Armin Moradi, founder and CEO of Qashio, highlighted the synergistic value of the deal. “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,” Moradi said.
Mahmoud Iswaid, co-founder and CEO of Sanad Cash, views the deal as a sign of market maturity. “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,” Iswaid commented. He added that the unified platform enhances financial transparency and supports the Kingdom’s vision for a cashless, innovation-driven economy.
Global ambitions fuel recruitment drive
To support this major growth phase across its operational and expansion markets—including Europe, Jordan, the UK, Dubai, Abu Dhabi, and KSA—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.
This acquisition and subsequent expansion reinforce Qashio’s mission to transform how companies across MENA and beyond manage their finances, driving efficiency, visibility, and rewards on every transaction. Qashio’s platform gives businesses real-time visibility and control over company finances through smart corporate cards with custom spending limits.
