Xpence and Neoleap launch corporate Visa cards for Saudi SMEs

By Gloria Methri

Xpence, the financial management platform with integrated Visa card solutions, has partnered with Neoleap to launch corporate Visa cards in the Kingdom of Saudi Arabia.

The launch event, held at Neoleap HQ in Riyadh, celebrated the first local transaction in Saudi Riyals using the new Xpence corporate Visa cards.

Xpence provides services to both SMEs and corporates with a strong value proposition focused on corporate cards and expense management. It offers a cutting-edge expense management platform embedded with smart Visa corporate cards, enabling businesses to manage petty cash and day-to-day business expenses effectively.

Saudi companies operating in Bahrain and the UAE can open accounts in each country and manage their expenses seamlessly as a team from a single platform across borders. This collaboration aims to enhance financial management capabilities and streamline business operations across the Kingdom.

Xpence launched its first corporate Visa card in Bahrain in 2020 and is now live in the UAE. Since then, SMEs and corporates have conducted hundreds of thousands of transactions using Xpence Visa cards.

Zain Ansari, Co-Founder and chief Commercial Officer of Xpence, said, “Our partnership with Neoleap is a testament to the hard work and dedication of both teams. We are grateful for the support of our Saudi investors and are excited to onboard the hundreds of Saudi companies that have already signed up. This launch aligns with our commitment to Vision 2030 as we strive to empower businesses with cutting-edge financial tools during this exciting boom period in Saudi Arabia.”

Abdullah Al-Ibrahim, CEO of Neoleap, added, “Partnering with Xpence aligns with our vision to support Saudi Arabia’s ambitious Vision 2030 goals. Together, we aim to provide seamless and efficient financial solutions that cater to the evolving needs of SMEs and corporates, driving economic growth and innovation in the region.”