Smart Spend Management from Dubai’s Pemo

Pemo is a Dubai-based fintech startup revolutionizing expense management for small and medium-sized enterprises (SMEs) across the Middle East, North Africa, and Pakistan (MENAP). Founded in 2022 by Ayham GoraniDealroom has a profile for this one. Try Dealroom → (CEO), Alessandro DuriDealroom has a profile for this one. Try Dealroom →, Valerie KondeDealroom has a profile for this one. Try Dealroom →, and Saed GhoraniDealroom has a profile for this one. Try Dealroom →—entrepreneurs with backgrounds at Rocket Internet and Google—the company aims to streamline financial operations for businesses in the region

Pemo offers an all-in-one spend management platform that includes corporate cards, automated expense tracking, invoice management, and accounting automation. This comprehensive solution provides real-time visibility and control over company spending, enabling faster and more informed financial decisions. The platform's AI-driven tools help businesses stay compliant with evolving regulations, such as the introduction of corporate income tax in the UAE.

The startup has gained significant traction, serving over 6,000 companies, including notable clients like Mövenpick, Condé Nast, Anantara Hotels & Resorts, and Talabat. In 2024, Pemo processed an annualized transaction volume of approximately $380 million, reflecting a sixfold increase from the previous year. This growth underscores the demand for efficient financial solutions among SMEs in the region.

Pemo's success has attracted substantial investor interest, raising a total of $19 million in funding. The latest $7 million pre-Series A round, co-led by Shorooq Partners and Augmentum Fintech, is earmarked for product development and expansion into key GCC markets, including Saudi Arabia. The company's entry into the Saudi market aligns with the Kingdom's Vision 2030, aiming to foster a cashless, digital economy.

In a competitive landscape, Pemo distinguishes itself from regional players like Qashio, Alaan, and Pluto through its comprehensive platform and focus on customer experience. By addressing the unique challenges faced by SMEs in the MENAP region, Pemo is poised to become a pivotal player in the fintech ecosystem, driving financial innovation and supporting economic growth.

Sources: 

Zawya

MENABytes

Forbes Middle East


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