Scuba diving entrepreneur with dreams of an IPO
This month, November 2022 we get to know Armin Moradi, CEO & Co-Founder of Qashio. The almost one-year-old company is taking part in changing the world into a cashless society. Armin has not only founded a company but also a strong team that together drives a positive impact towards changing the industry.
HEJ SBC Member!
Armin Moradi, CEO & Co-Founder of Qashio
Who is Armin Moradi?
I am Armin Moradi, CEO & Co-Founder of Qashio. I grew up in a small suburb outside of Stockholm called Vallentuna, an idyllic childhood with a lot of time spent in the forest next to my parents house building tree-houses and playing sports such as football, bandy and ice-hockey whenever I could.
I graduated in 2009 with two bachelor degrees from Uppsala University in Communication Science and Business Administration. I had the privilege of working for the Swedish American Chamber of Commerce in San Diego as my first job, where I got to meet inspiring Swedish business men and women and learn about their journeys. I later had a one year stint in the Venture Capital industry in New York before joining Oracle as a part of their Sales team for Financial products. It is at Oracle I found my passion of working with cutting edge technology in complex financial environments, boring for most but the dream for me.
Later I founded Lytecone, a multination software house that I exited and lead Carriage as Managing Director for UAE & KSA which exited at $150m USD to Delivery Hero (Talabat).
Besides my career, I am passionate about football (only watching nowadays), scuba diving with my wife and building Lego with my son. I wish golf would be a hobby as well, I am just not good enough to enjoy it.
You co-founded Qashio at the end of 2021. What made you want to start exactly this business?
Throughout my career, I always saw a gap in what I was doing, that gap was how money and cash are treated by corporates. I used to sell the most advanced financial products, building the most complex organizational processes but could never seem to find a way to solve some of the most common and simple problems which are cash, payments, and bottom up financial controls.
The problem became more prominent when I got to sit on the other side of the table as a owner of P&L’s and Balance sheets, now the pains I wanted to solve for when selling software, was my reality as a Group Finance Director for one of the Sovereign Wealth Funds in the region.
Jonathan Lau (CPO & Co-Founder of Qashio) and I, had been looking for a new business idea to do together, After Lytecone & Carriage, we were hungry for another success. I highlighted my problem, and Jonathan came up with the solution and Qashio was born. We quickly gauged the market and identified, that not only is this something that is needed in the region, it is also aligned with the future vision of UAE and Vision 2030 of KSA, to become cashless societies.
You have not only founded one company but two. What are some of the drives that want you to start a new business? But also what are some of the challenges?
I believe it is as simple as impatience. If there is a problem that is big enough, waiting for others to solve a problem is not an option. I want to drive positive change, I want to make an impact I can be proud of and solve problems.
The challenge and grind drive me, seeing something being built together with a team of equally motivated people is an amazing feeling. However, there are challenges, late nights, stress and the compromises on work-life balance.
One thing I learned, however, is planning and strategising for perfection will never deliver results. Making decisions and executing them while being disciplined is more impactful. The moment I recognised the power of making a decision and then having the discipline to get it done – results began to manifest faster.
What are some of your proud moments in your career?
My proudest moment is now, we have built an amazing team… Seeing how well we work together, the dynamic we have and how everyone is working towards the same goals is fantastic. I feel I am reporting to my team rather than the other way around. Nothing beats the feeling of an amazing work environment and the one we have now, it is the best I’ve ever experienced.
What is your dream?
I dream of founding a company and taking it all the way to IPO.
Qashio´s founders Armin and Jonathan and their team.