Built by operators who've sat in your seat for decades.
XSquare exists because the GCC's business economy deserves better than seven disconnected tools and a finance team that spends month-end reconciling spreadsheets. We are rebuilding the financial stack the way we wish it had always been built.
Two fintech leaders. One broken finance stack. The same conclusion.
In late 2023, two veteran fintech leaders looked at the same problem from opposite sides of the desk.
Tanvir Shah, a Harvard University alum, has spent 20+ years inside the GCC's largest financial institutions — building a $2 billion lending portfolio, launching a payments business to $3 billion in annual volume, running cards and loyalty programs across the UAE, Saudi, Kuwait, Qatar, Bahrain, Egypt, and the UK. He kept watching the same scene play out: a brilliant CFO at a great GCC business, hiring a third finance hire just to keep up with reconciliation between seven different tools.
Ashwin Shenoy had spent the same decades on the supply side — winning the world's largest card manufacturing contract for State Bank of India, running ICICI Bank's 100-million-citizen financial inclusion project, launching the GCC's first commercial B2B card programs for Visa, Mastercard, and American Express. He kept watching merchants want one simple thing — get paid faster, pay suppliers smarter — and getting handed five disconnected tools instead.
"The GCC's business economy deserved better than spreadsheets stitched together with hope. So we built it."
XSquare started as a thesis on a whiteboard in Dubai and became a two-entity, multi-market payments platform in under a year. Gaurav Sachddeva joined as CBO soon after, bringing 22 years of payments leadership across South Asia, MENA, and the GCC.
The team is small. The standard is uncompromising. The work is just beginning.
A simple destination. A specific path to get there.
Unify every GCC business's financial operations on one ledger, one source of truth, one platform.
Invoicing, receivables, supplier payments, and reconciliation should not be four products from four vendors stitched together by a finance team. They should be one infrastructure that just works.
Make the GCC the world's most efficient market for B2B finance.
The region runs the fastest infrastructure projects, the boldest licensing reforms, and the most ambitious diversification agendas on the planet. Its finance stack should match that pace. We are here to make sure it does.
Four operating principles. We do not negotiate on them.
Regulated by default, never an afterthought.
Non-custodial architecture. PCI DSS Level 1 v4 certified. Money flows through licensed PSP partners regulated by CBUAE and QCB directly into the merchant's bank account. We never sit between the merchant and their funds.
One platform that goes the full distance.
If you have to switch tools between invoicing, collection, payables, and reconciliation, you have already lost. XSquare runs the entire B2B financial workflow on a single ledger with one source of truth.
Built for the GCC, not localised for it.
PEPPOL-compliant e-invoicing for the UAE FTA mandate. AED- and QAR-native. Arabic-ready. Designed entity-by-entity, market-by-market, by people who have been operating in this region for four decades.
Outcomes measured in days, not quarters.
Collection cycles compressed from weeks to hours. Month-end finance work compressed from sixty hours to four. Onboarding measured in days. We do not ship features that do not change a number on a customer's P&L.
The people running the company.
20+ years in Dubai banking and finance. Harvard University alum. Built and ran payments and lending businesses at institutional scale across the GCC, UK, and EMEA — including a $2B real estate lending portfolio and a payments business scaled to $3B in annual volume. Sits on the Investment Committee for the UAE Ministry of Finance's $545M Venture Debt Fund.
Connect on LinkedIn
Career operator across India, South Asia, the Middle East, and Africa. Has shipped some of the largest financial infrastructure projects in the world — won and ran State Bank of India's $150M annual card manufacturing contract and ran ICICI Bank's 100-million-citizen financial inclusion project. Launched the GCC's first commercial B2B card acceptance programs for Visa, Mastercard, and American Express.
Connect on LinkedIn
22+ years across Banking, Payments, and Fintech in South Asia, MENA, and the GCC. Ex-Mastercard, where he led MENA Acceptance & Payments and scaled Acquiring & MPGS to $250M in revenues. Chair, MENA Fintech Association (Qatar). Co-Founder & CEO of The Founders Majlis, advising fintechs on licensing and GTM, including BNPL approvals from Qatar Central Bank.
Connect on LinkedInWant to talk to the team
building this?
30-minute demo, tailored to your business. We will show you exactly what XSquare runs inside a company like yours.