Pemo receives seed funding and launches SMEs spend management platform

Thursday 19 May 2022 13:09 CET | News

UAE-based fintech startup Pemo has raised USD 12 million in seed funding round and launched an all-in-one spending management platform for SMEs across the MENAP region.

The funding round was led by Cherry Ventures and Shorooq Partners, with participation from Collective, Speedinvest, and Antler, among other investors and business angels.

Pemo offers fast, simplified, and transparent invoice payment and expense management solutions and smart corporate cards for small and medium-sized enterprises (SMEs). The seed funding will also allow the company to establish operations in Saudi Arabia by the end of 2022 and expand in Egypt and Pakistan next.

The startup operates in a region where 90% of the businesses are SMEs who heavily rely on multiple platforms to process and manage their corporate spending. Pemo’s all-in-one solution helps SMEs to save time and money, while empowering team members to make purchase decisions quickly and responsibly.

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Keywords: startup, funding, expansion, SMEs, personal finance management, spend management, e-invoicing
Categories: Payments & Commerce
Companies: Pemo
Countries: Middle East, Saudi Arabia
This article is part of category

Payments & Commerce


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