Qashio, the Dubai-headquartered corporate spend management company, has launched Global Pay, a product that lets businesses earn loyalty points when they pay overseas suppliers, contractors and invoices. The company announced the product, which it said was developed in partnership with Visa, in a release published on Zawya on October 29.
Points earned through Global Pay can be redeemed with more than 50 travel and hospitality partners, including Emirates Skywards, Accor and IHG, Qashio said. The product shows foreign exchange rates upfront, charges no fixed transfer fees and runs payments through the approval workflows customers already use on the platform.
What the company does
Qashio lets finance teams issue corporate cards to employees with preset limits, track spending and reconcile transactions in one system. Its platform also covers accounts payable, approvals, business travel and a rewards program built on its own currency, Qashio Points, which customers earn on card spending. Global Pay extends that model to international transfers, which the company said have traditionally been handled outside spend management platforms.
“International payments are part of any business today yet historically those payments earn the business nothing,” chief executive Armin Moradi said in the release. “If the money has to be sent anyway, why shouldn’t the business get something back on that as well.”
The founders
Moradi, who is from Stockholm and worked at Oracle in Dublin earlier in his career, is the company’s founder and chief executive. Lydia Foott, the chief operating officer, is described by the Irish Examiner as a co-founder. MENAbytes has also named Jonathan Lau as a co-founder. The company went to market in July 2022, according to the Irish Examiner.
Funding and investors
In May 2025 Qashio raised $19.8 million in a mix of equity and non-equity financing led by existing investor Rocketship, a Silicon Valley venture firm, according to MENAbytes. Existing backers ABN Ventures, MITAA and Oneway VC followed on, and new investors included Luxembourg-based MoreThan Capital, regional banks and family offices. The company did not disclose the split between equity and debt. MENAbytes reported that Qashio had previously raised $10 million in a seed round in 2022.
In September 2025 Saudi Arabia’s Alinma Bank announced a strategic investment of an undisclosed amount, and the following month Qashio acquired Sanad Cash, a Saudi expense management provider, to expand in the kingdom.
Traction and market
At the time of the 2025 round, Qashio said it served clients in 22 countries, had made more than $1.2 million in profit in the first quarter of 2025 and had grown revenue by more than 800% a year for three consecutive years. It did not disclose revenue figures. In May this year the Irish Examiner reported that the company was on target for $70 million in revenue in 2026 and that more than 10% of its business had come from Europe.
That European demand led Qashio to set up a European headquarters in Dublin. The company plans to create 50 jobs there over three years across sales, marketing, product, engineering and operations, according to IDA Ireland, and is developing an in-house research and development unit called Qashio Labs. The UAE, where Qashio operates, was the world’s second-largest source of remittances after the United States in 2025, with outflows of about $51.4 billion, The Paypers reported.
What’s next
Qashio said Global Pay is available to eligible new and existing customers and follows the launch of Qashio Corporate Travel and its expansion in Europe. Foott told the Irish Examiner that the company plans a satellite office in Cork for sales and customer service as its next step in Ireland. The company says on its company website that it is headquartered in Dubai and Dublin.
This series earlier profiled Rentify, the Dubai rental payments and property technology startup, and Boom, the community courier app for small businesses.
