10th Indian Delegation to Dubai, Gitex & Expand North Star – World’s Largest Startup Investor Connect
MENA

Qashio and Carasti Join Forces to Transform Leasing and Corporate Expenses in the UAE

Qashio, a pioneering Dubai-based Fintech company offering an Award-Winning Corporate Card and Expense Management Solution, is thrilled to announce its strategic partnership with Carasti, a leading car subscription service in Dubai. This collaboration aims to redefine the leasing landscape and enhance the corporate expense experience for organizations across the UAE.

As organizations increasingly embrace alternative approaches to vehicle ownership, Qashio and Carasti have come together to offer an innovative solution that not only streamlines the leasing process but also provides immediate benefits for businesses. Through this partnership, any sign-up for a vehicle leasing agreement with Carasti using Qashio’s Corporate Cards will receive an instant cashback, demonstrating the commitment of both organizations to offer tangible value to their clients.

Armin Moradi, Co-Founder & CEO of Qashio, expressed his enthusiasm about this collaboration: “At Qashio, we are dedicated to transforming financial processes for organizations by offering cutting-edge solutions that enhance efficiency and convenience. Teaming up with Carasti aligns perfectly with our mission to simplify processes and provide real benefits to our clients.”

Mr. Claudio Esposito-Aiardo, Co-Founder & CEO of Carasti, shared his insights on the partnership: “Carasti is proud to partner with Qashio to deliver a unique proposition to our corporate clients with our more flexible leasing solution in the form of Car Subscriptions. We’re seeing huge demand from the corporate world as car subscription is a great way to lower the overall cost of ownership and minimise upfront costs for businesses needing vehicles. The instant cashback is a testament to our commitment to making Car Subscription not only accessible but also rewarding for businesses.” We’re excited to work together with Qashio in providing added value to our clients’ vehicle leasing experience.”

With a growing trend among organizations to incorporate leasing as part of their employee benefits packages, this partnership aims to streamline the leasing process, empower businesses to manage their fleets efficiently, and ultimately make vehicle leasing more accessible and cost-effective through Carasti’s Car Subscription program. 

Moreover, the collaboration between Qashio and Carasti extends beyond immediate benefits. Both organizations share a vision of a more sustainable future. Qashio is driving a shift towards cashless and paperless financial processes, while Carasti is leading the way by offering Electric Vehicles to the market. Mr. Esposito-Aiardo noted, “We have observed a rising demand for electric cars from businesses seeking to embrace environmentally friendly alternatives in their leasing choices.”

The Qashio-Carasti partnership signifies a significant step forward in reshaping leasing and corporate expenses in the UAE. Together, these innovative companies are working towards a future where business solutions are not only efficient but also environmentally conscious.

About Qashio:

Qashio is a Dubai-founded Fintech company that offers an Award-Winning Corporate Card and Expense Management Solution to organizations in the UAE. With a commitment to simplifying financial processes, Qashio empowers businesses to enhance efficiency, streamline expenses, and embrace the future of cashless operations.

About Carasti:

Carasti is a prominent car subscription service based in Dubai, United Arab Emirates. By providing customers with the option to subscribe to vehicles on a monthly basis, Carasti offers an alternative to traditional car ownership or leasing. With a focus on flexibility and accessibility, Carasti is reshaping the way individuals and businesses approach vehicle mobility.

by Team SNFYI

Abu Dhabi has ranked as the fastest-growing emerging ecosystem in the Middle East and North Africa (MENA) region, marking a 28 per cent growth in ecosystem value in the 2024 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network, launched during London Tech Week. GSER, which uses the world’s most quality-controlled dataset on startup ecosystems, analyses data from more than 4.5m companies across more than 300 entrepreneurial innovation ecosystems. It provides compelling new insights and deep knowledge about startup trends around the world and ranks the Top 40 global ecosystems, emerging ecosystems, and an expanded regional ranking. Abu Dhabi startups As part of Startup Genome’s analysis of the UAE’s capital city, including the growing startup activity at Hub71, Abu Dhabi’s global technology ecosystem, GSER 2024 found that Abu Dhabi continues to be the fastest-growing emerging ecosystem in the MENA region. The ecosystem created $4.2bn in Ecosystem Value from July 1, 2021 to December 31, 2023, representing 28 per cent compound annual growth compared to July 1, 2019 to December 31, 2021 period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations. Abu Dhabi’s ranking jumped 15 spots compared to the previous year, landing in the 61-70 group and Total Early-Stage Funding between July 1, 2021 and December 31, 2023 is $284m and total VC Funding for 2019-2023 is $1.06bn. In addition, Abu Dhabi was ranked: Other ranks attained by the emirate include posting within the Top 10 MENA Ecosystem in Knowledge, which measures innovation through research and patent activity, within the Top 15 MENA Ecosystem in Bang for Buck, which measures the amount of runway tech startups acquire, on average, from a VC round, within the Top 15 MENA Ecosystem in Affordable Talent, which measures the ability to hire tech talent. It was also highlighted in the FinTech, AgTech and New Food, and ClimateTech sectors for their density of talent, support resources, and startup activity. Also spotlighted were the Golden Visa and Abu Dhabi’s strategic location, which were cited as reasons a startup should move to the ecosystem. Ahmad Ali Alwan, CEO of Hub71, said: “Abu Dhabi’s rise as a leading startup ecosystem in the region is a testament to the opportunities it offers entrepreneurs worldwide. “Its favorable environment creates the funding and commercial prospects and establishes the foundation for startups to scale. This is exemplified through Hub71 which has seen its startup community grow over the past five years as more startups identify Abu Dhabi as a launchpad for their global expansion. “As the Startup Genome report shows, Hub71 is fulfilling the vision of our leadership to maximize the potential of disruptive ventures that are transforming society with impact.” The report highlights Abu Dhabi’s key ecosystem players including Abu Dhabi Global Market (ADGM), Mubadala Investment Company, ADQ, the Abu Dhabi Investment Office (ADIO), startAD, and Abu Dhabi Department of Economic Development (ADDED), which are contributing to a favourable operating and regulatory environment and offering unique incentives, such as 100 per …

by Team SNFYI

The Arabian Research Bureau is pleased to announce that COMEX 2024 – Global Technology Show, the leading technology exhibition of the year in the Sultanate of Oman will feature 24 Elements. For the previous 32 Editions, COMEX has been offering a platform for individuals, businesses, investors, and government bodies and organizations to present their products, innovations that help explore and discuss solutions in the world of tech. The 33rd Edition of COMEX 2024 is organized under the support of the Ministry of Transport, Communication and Information Technology, and is set to take place during the period from 27-30 May 2024, at Oman Convention and Exhibition Center. The event aims to create a convergence point for tech enthusiasts, startups, innovators, industry experts, investors, and visionaries, offering visitors, participants and exhibitors an opportunity to explore, network, and learn about the latest trends and advances in technological development.  The exhibition also highlights cutting-edge and diverse solutions in technology, including artificial intelligence, digital transformation, cybersecurity, Programming, blockchain technology and electronic and digital knowhow of all kinds. Furthermore, COMEX 2024 seeks to facilitate the efforts of digital transformation, technological development and diversification of investment in technology, knowledge and innovation in the Sultanate of Oman.  Keeping abreast of the accelerated global developments of advanced technologies and the role of technology in the development of capabilities, skills and productivity and its importance in supporting the national economy, COMEX will receive wide participation from various government agencies and regional and international tech companies. COMEX 2024 aims at showcasing 24 different elements and offers a diverse selection of activities and zones that include the Banking, Fintech and InsureTech Zone, which discusses innovative solutions in the advancement of digital banking, cryptocurrency, digital wallets and much more. The 2nd Digital Government Forum provides valuable insights from keynote speakers and panel discussions featuring top experts from around the GCC, sharing their vision for the future of technology. The COMEX VIP Majlis, which connects industry leaders, potential partners, and like-minded individuals to foster collaboration and innovation in a private zone. The Tech Startup Zone, which promotes new tech companies, as well as provide a platform where emerging startups will pitch their groundbreaking ideas and solutions, and investors are able to scout for promising innovations. The COMEX exhibition also includes the VIP B2B Buyers and Meeting Zone for businesses looking to invest, collaborate and grow; offering a unique opportunity to capture promising opportunities in the tech sector. The COMEX Workshops, which help to expand knowledge and skills through interactive workshops and training sessions conducted by industry leaders. Drones, Future Mobility, EV, Renewable and Sustainable Energy Zone, a special zone for companies to promote the latest technology in renewable and sustainable energy. As well as several additional features like COMEX Hackathon, Gaming and Esports, Talks and much more.   COMEX 2024 is a groundbreaking exhibition that promises to be an extraordinary showcase of innovation, technology, and cutting-edge solutions. Do not miss the opportunity to be part of Oman’s most prestigious tech event.

by Team SNFYI

Moscow, Russia-based Neosun Energy, a global developer of solar energy solutions has lately announced the opening of a new regional office in Dubai, United Arab Emirates to extend its footprint to the MENA market. The company is also planning to open new offices in Saudi Arabia and Oman soon. Historically known for its abundant oil reserves, the MENA region is now witnessing a paradigm shift towards sustainable energy sources, with a concerted effort to harness its vast natural resources for renewables. According to the International Energy Agency (IEA), the MENA region is projected to add 62 GW of renewable energy capacity over the next five years. The projection aligns with COP 28 i.e. the United Nations Climate Change Conference that took place in Dubai from 30 November to 12 December 2023. The growth acceleration for solar capacity in the region is expected to grow over three times that of the last five years – marking over 85 percent increase. Speaking of the development, Ilya Likhov, CEO of Neosun Energy, in a press release said, “The unique climatic conditions of the MENA region make it an ideal center for solar energy production. The UAE, Saudi Arabia, and Oman have one of the highest solar exposure rates globally, with solar irradiance from around 2,285 kWh/m2 to 7,004 kWh/m2,” said Likhov. Speaking of the MENA region as an ideal opportunity for solar energy solutions, Likhov says, “As solar energy is the most cost-effective form of energy generation today, the MENA countries can produce the cheapest electricity. All of this is fertile ground for local entrepreneurs to utilize solar energy solutions to make their businesses more profitable,” Likhov adds. According to the company, one of the key advantages of Neosun’s solar installations is their adaptability for remote and off-grid locations, addressing the challenges of limited or unreliable conventional electricity access. By harnessing solar energy, businesses in remote areas can initiate operations independently of the grid, unlocking new avenues for economic growth and development. Today their projects are presented in 16 countries. Speaking of the growth opportunities for local businesses in the MENA region, Likhov said, “We are already in talks with potential partners in the MENA region. We strongly believe that the new Neosun Energy office will help to be closer to local businesses and commercial enterprises to provide them with affordable solar energy solutions: be it solar plants, innovative energy storage systems, or portable Power Hubs.” “Using the new solar energy technologies will help local businesses to increase their cost efficiency and investment attractiveness,” Likhov concluded. Source: Laffaz