Pluto raises $6 million Seed round

Pluto raises $6 million Seed round

UAE-based fintech Pluto announced its emergence from stealth mode with a $6 million Seed round, led by Global Founders Capital. The round saw participation from Adapt VC, Soma Capital, Graph Ventures and OldSlip group.

Founded in 2021 by Mohammed Ridwan, Nayeem Zen from Square and Mo Aziz, Pluto enables businesses to streamline their spending management using virtual and physical cards with specific spend controls.

It plans to utilise the funds to improve its go-to-market strategies as well as to expand its team.

Source: Waya

Pluto, corporate spend management startup, raises $6m (AED 22M) in its seed round. The round was led by GFC, with participation from Adapt VC, Soma Capital, Graph Ventures and OldSlip group.

The startup, which is focused on the MENA region, also secured funds from FinTech investors from Silicon Valley and MENA. Among angel investors that joined the round are founders from companies such as Plaid, Airbase, and Ramp. In addition to, MENA founders like Abdulmajeed Alsukhan and Turki bin Zarah of Tamara as well as Hosam Arab of Tabby also contributed capital to this round.

Pluto was founded by Mohammed Ridwan from Shopify and Square – Cash App, Nayeem Zen from Square – CashApp, Uber and Shopify and Mo Aziz, a Y Combinator alumnus.

“In