Qashio, the MENA region’s leading spend management and corporate card platform, has received a strategic investment from Alinma Bank. The move deepens an existing partnership between the two entities and officially adds Qashio to the Saudi bank’s growing portfolio of financial technology companies.
A Strategic Partnership for Saudi Expansion
This investment combines Qashio’s globally recognized, cutting-edge spend management platform with Alinma Bank’s extensive scale, credibility, and large client base in Saudi Arabia. The collaboration is set to deliver a comprehensive, modern financial solution for SMEs and corporate clients in the Kingdom, setting a new benchmark for corporate financial services in the region. The partnership will enable businesses to access a more efficient and rewarding way to manage expenses and transactional banking.
Enhancing Corporate Financial Solutions
The collaboration aims to develop an integrated platform that provides businesses with enhanced visibility and control over their corporate spending. Qashio’s solution offers corporate cards and a powerful platform for managing all business expenses in real-time. The offering is further strengthened by Qashio’s loyalty ecosystem, which provides access to premium partners such as Emirates Skywards, Avios, and major hotel groups like Accor and Intercontinental.
Alignment With Vision 2030
The strategic investment directly supports the goals of Saudi Arabia’s Vision 2030. By fostering financial innovation and providing advanced digital tools for businesses, the partnership between Qashio and Alinma Bank contributes to the Kingdom’s economic diversification and its transition toward a cashless, digital-first economy. Armin Moradi, CEO and Founder of Qashio, emphasized that the collaboration will help contribute to these national objectives.
About Qashio
Qashio is the region’s leading spend management solution, helping over 2,000 active enterprises and businesses gain visibility, control, and efficiency in their financial operations across the GCC, EU, and UK.
About Alinma Bank
Alinma Bank is a leading, Shariah-compliant financial institution in Saudi Arabia. It provides a comprehensive range of banking and investment services to a broad base of retail and corporate clients, and is a key player in the Kingdom’s financial sector.
Source: Zawya
