Pemo raises $12 million Seed round

Pemo raises $12 million Seed round

UAE-based fintech Pemo has raised a $12 million Seed round, co-led by Cherry Ventures and Shorooq Partners, with participation from FinTech Collective, Speedinvest, BY Venture Partners and Antler, as well as private investment from business angels.

Founded in April 2022 by Alessandro Durì, Valerie Konde and Ayham Gorani, Pemo offers SMEs across the Middle East, North Africa and Pakistan (MENAP) an all-in-one spend management platform that includes pre-paid corporate cards, invoice payment systems and expense tracking functions.

The investment will be used to drive further product development and expansion across MENAP, with plans to establish operations in Saudi Arabia by the end of 2022.

Press release:

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

The announcement comes alongside a $12 million funding round, co-led by dedicated seed fund 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, including unicorn founders of companies