Qashio has partnered with MENA-based embedded finance platform, CredibleX to launch a financing service designed to help businesses accelerate growth, bridge cash flow gaps, and improve operational efficiency more easily.
‘Qashio Financing’ is aiming to empower SMES by providing quick access to funds, competitive rates, and a streamlined, user-friendly process, the firm said in a statement. Together, they are aiming to alleviate one of the key hurdles faced by small and medium sized enterprises (SMEs), gaining access to money when they need it.
The launch follows the release of the 2023 Mastercard SME Confidence Index which indicated a positive outlook in the MENA region. It revealed that 72% of SMEs expect stable or growing revenue yet 92% emphasised the need for access to a wider range of financial services.
Armin Moradi, Co-Founder and CEO of Qashio, and Ahmad Malik, Co-Founder of CredibleX, at the signing ceremony
The Dubai-based fintech has inked several new deals in the past twelve months. In September, Qashio brought its leasing and corporate expenses solution to vehicle ownership as part of a new partnership with Carasti, a car subscription service. A month earlier, it teamed up with Mastercard to introduce corporate credit cards with virtual issuance capabilities.
Speaking on the new financing solution Armin Moradi, Co-Founder and CEO of Qashio said: “Qashio is committed to empowering SMEs and businesses with dynamic financial tools, to seamlessly manage critical processes and essential business needs, ‘Qashio Financing’ is a testament to this commitment. Through this partnership with CredibleX, we deliver a solution that not only addresses the immediate financial needs of our customers but also supports their long-term growth objectives,”
Ahmad Malik, Co-Founder of CredibleX added: “Our partnership with Qashio is a game-changer for SMEs, bringing together instantaneous credit decision-making, a choice of financing options for SMEs and a seamless, embedded journey within Qashio’s application. In this way, SMEs can access a highly tailored and efficient financial support system that addresses their unique challenges.”
