UAE-based fintech Pemo secures $12 million in funding

Oluwajuwonlo Afolabi -

Pemo, an expense management fintech startup based in UAE has secured $12 million in its seed funding round.

  • The funds will be used to further develop its product offering, and expand its operations into Saudi Arabia by the end of 2022.
  • Pemo is a fintech startup helping businesses in the Middle East, North Africa and Pakistan (MENAP) to access integrated and transparent expense management solutions with smart corporate cards for small and medium-size enterprises.
  • The funding round was led by Cherry Ventures and Shorooq Partners with participation from FinTech Collective, Speedinvest, BY Venture Partners, Antler and private angel investors.