RIYADH: UAE-based corporate spend management platform Qashio has acquired Saudi fintech Sanad Cash in a strategic move to accelerate its expansion in the Kingdom and deepen its regional footprint.
The deal combines Qashio’s technology with Sanad Cash’s local market expertise, enabling Saudi businesses to access a fully localized and compliant solution for managing corporate expenses and cards, the companies said in a joint statement.
The partnership also enables Saudi clients to expand globally through Qashio’s presence in the EU, the UK, and the UAE, reinforcing its position as a leading regional spend management platform.
The move comes as Saudi Arabia’s fintech sector continues to expand rapidly, supported by regulatory reforms, digital innovation, and investments in financial infrastructure under Vision 2030.
The Kingdom has already achieved a 79 percent cashless transaction rate in 2024, surpassing its 2025 target ahead of schedule, according to the Saudi Central Bank.
