Pemo Secures $7M in Pre-Series A to Drive Growth and Expansion

Pemo, a leading spend management platform headquartered in Dubai, has secured $7 million in its Pre-Series A funding round. This new milestone comes as the company continues its rapid ascent in the UAE market, recently reaching AED 1.4 billion in annualized transactions, a testament to its exceptional growth trajectory.

The latest investment will fuel Pemo’s product innovation efforts and help the company maintain its commitment to delivering unparalleled value to its customers. With a focus on enhancing financial control and efficiency for businesses, Pemo is also preparing for expansion into key GCC markets, including Saudi Arabia — a burgeoning technology hub with a strong appetite for smart financial solutions.

Co-led by Shorooq and Augmentum Fintech, the funding marks another step forward for Pemo, whose award-winning software is already used by over 4,000 companies to streamline their expense management. Pemo provides businesses with corporate virtual and physical cards alongside automated tools, enabling real-time financial visibility and control to make data-driven decisions that accelerate growth.

Pemo’s cutting-edge technology is designed to simplify expense tracking and ensure compliance, especially in light of recent tax reforms in the UAE. With features like automated receipt matching, spending analytics, and AI-powered accounting, Pemo empowers companies to manage their finances effectively while freeing up time to focus on strategic goals.

Co-founder Ayham Gorani reflected on the company’s journey, saying, “We’ve been on a mission to help businesses save time and money by simplifying expense management and empowering teams to make responsible purchasing decisions. The UAE’s thriving ‘pro-business’ ecosystem has been the perfect foundation for Pemo’s growth, and we’re excited to strengthen our presence further, enhance our product offering, and expand into new markets.

Pemo’s team, which has grown to over 60 experts from leading global and local tech companies, continues to be instrumental in its success. This funding builds on the $12 million seed round raised in April 2022, co-led by Cherry Ventures and Shorooq, among others. The strong backing from top-tier investors reaffirms Pemo’s ambition to disrupt the spend management space and solidify its position as a leader in the market.

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