Pemo, a rapidly growing spend management platform based in Dubai, has achieved a major milestone by securing $7 million (Dh25.7 million) in a pre-series A funding round. This funding highlights Pemo’s impressive potential to revolutionize how businesses manage expenses throughout the GCC region and paves the way for its expansion into tech-savvy Saudi Arabia.
In just two years, Pemo has facilitated Dh1.4 billion in annualized transactions, showcasing the demand for its innovative solutions, which include both virtual and physical corporate cards along with automated financial tracking. Over 4,000 companies trust Pemo’s platform for transparent, real-time spend management, enabling business leaders to make more informed financial decisions.
With co-lead investments from Shorooq Partners and Augmentum Fintech, Pemo intends to use the funding to enhance its range of spend management solutions. Co-founders Ayham Gorani, Valerie Konde, Alessandro Duri, and Saed Ghorani, who have extensive backgrounds from companies like Rocket Internet, Google, Zalora, and Pleo, believe this is just the start of Pemo’s mission to transform business expense management in the region. “Our aim is to deliver a top-notch customer experience, providing businesses with unparalleled transparency, control, and efficiency in managing their finances,” stated Gorani.
Pemo’s technology, which offers businesses extensive visibility and automated financial control, is a valuable addition to the Middle East’s swiftly changing digital finance landscape. By addressing gaps in spend visibility and management, Pemo allows companies of all sizes to optimize their operations and concentrate on growth—setting a new benchmark for financial innovation in the region.
