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UAE Fintech Qashio Raises $19.8M For Regional Expansion
The Dubai-based fintech will use the cash injection to expand its B2B spend management platform and loyalty program across the MENA and Europe.
Dubai-headquartered fintech Qashio has raised $19.8 million in its latest funding round, paving the way for continued geographic expansion and growth of its industry-leading B2B loyalty ecosystem. Already operating in 22 countries — including the UAE, Europe, and the UK — the company will use the new capital to support its imminent entry into Saudi Arabia and strengthen regulatory compliance.
The funding, comprising equity and non-equity sources, was led by existing Silicon Valley-based investor Rocketship. Qashio’s consistent growth, demonstrated by over 800% year-on-year revenue increases for three consecutive years, reflects the platform’s rising dominance in B2B expense management solutions.
In addition to Rocketship, several existing investors including ABN Ventures, MITAA, and Oneway VC reaffirmed their support. The round also welcomed strategic new backers, such as Luxembourg-based MoreThan Capital, prominent regional banks, and several family offices from across the region.
“We invested in Qashio because of their bold vision to modernize spend management in the Middle East, a region ripe for financial innovation,” said Sailesh Ramakrishnan, Managing Partner at Rocketship. “They’re not just solving a pain point, but transforming how companies operate and scale”.
Unlike traditional corporate cash back programs, Qashio’s loyalty network uniquely features premium partners like Emirates, Air France, KLM, Avios (British Airways, Iberia, Finnair), US Airways, and elite hotel groups including Jumeirah One, Accor, and IHG Intercontinental Hotel Group. These high-value rewards differentiate Qashio from competitors, enhancing its appeal to businesses that previously had limited access to such exclusive benefits.
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“At Qashio, we understand change often meets resistance, especially when shifting from manual processes,” said Armin Moradi, CEO and Co-founder. “Our loyalty program is designed to reward positive financial management behaviors with meaningful incentives like air miles and hotel points — rewards that are typically hard to obtain. Coupled with transparent pricing, lowest cross-border fees, and unmatched cashbacks without restrictive conditions, we empower businesses to embrace streamlined financial management”.
With profitability achieved — earning over $1.2 million in the first quarter of 2025 — Qashio’s fresh capital infusion positions the fintech leader to further accelerate its ambitious growth across MENA and into European markets.
News
ESET Bets On Specialized Security AI At 0.5% The Training Cost
ESET says NeoCortex can estimate an attacker’s next move, with a kill switch and human oversight built in to keep it from going rogue.
A sign-in anomaly, a suspicious process launch and an unusual connection may look harmless alone. Together, they can describe an intrusion that is hard for security to teams to piece together.
To solve that problem, ESET announced ESET NeoCortex on November 4, 2026: a specialized foundational AI model for cybersecurity. It powers ESET LiveCortex, available within the ESET PROTECT Platform, which connects fragmented security signals and turns them into actionable incidents.
Filtering is the main selling point, with LiveCortex processing billions of raw telemetry events daily, and just 0.00111% of them contributing to incidents presented to customers. The aim is less alert fatigue and more analyst time spent on threats that matter.
NeoCortex is built on world-model architecture, learning how digital environments behave and how events relate. ESET says that lets it reconstruct missing incident context, recognize similar past cases and estimate an attacker’s likely next step – what the company calls “minus-one-day defense,” a chance to intervene before the next stage unfolds. ESET points to Black October, the week leading up to October 25, 2026, when critical security issues affecting PHP, Linux, GitLab and other key systems demanded rapid, prioritized responses, as the kind of moment where that context matters.
ESET’s internal research also suggests a specialized model like NeoCortex can be trained at up to 200 times lower cost than a large general reasoning model, while delivering more accurate, defense-focused results. The company credits optimized training, a focus on cybersecurity vocabulary, lower computing requirements and privately owned hardware.
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“AI is accelerating both cyberattacks and cyberdefenses. With ESET NeoCortex, we are applying our AI investment to develop specialized foundational cybersecurity intelligence that remains under our control and strengthens, rather than replaces, human expertise,” said Juraj Malcho, Chief Technology Officer at ESET.
As part of the design, NeoCortex forms part of a layered architecture combining specialized models, deterministic controls, correlation logic, validation, auditability and expert human oversight. Safeguards include restricted sandboxes, read-only tools, continuous monitoring, defined usage and token limits, a kill switch and human oversight of critical response decisions. The model is also developed and self-hosted on ESET’s own infrastructure, which the company says reduces exposure to shifts among third-party AI providers, including commercial and geopolitical ones.
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