Pemo launches all-in-one spend management platform for MENAP SMEs

Pemo launches all-in-one spend management platform for MENAP SMEs

Pemo, the UAE-based fintech startup has launched its all-in-one spend management platform for small and medium-sized enterprises across the Middle East, North Africa and Pakistan (MENAP) region. The new platform offers fast, transparent, and simplified invoice payment and expense management solutions, as well as smart corporate cards for SMEs in the region.

The announcement follows a $12 million funding round, co-led by Cherry Ventures and Shorooq Partners, with participation from FinTech Collective, Speedinvest, BY Venture Partners and Antler. In addition, the round included private investment from prominent business angels and other successful members of the regional and global tech community.

Following its UAE launch, Pemo is looking to establish operations in Saudi Arabia by the end of 2022. The expansion will support the Kingdom’s Financial Sector Development Program (FSDP), which aims to build a cashless economy as part of the Saudi Vision 2030. The company later plans to extend its geographical footprint into Egypt and Pakistan.