UAE FinTech Pluto Raises $4.1M Pre-Series A to Accelerate Expansion in Saudi Arabia
Pluto, a cutting-edge corporate card and expense management platform based in the UAE, has successfully raised $4.1 million in a pre-Series A funding round. This significant investment comes on the heels of the company achieving a remarkable milestone of over AED 1 billion in managed expenditures, as reported by Zawya. With a robust solution aimed at streamlining financial operations for businesses, Pluto is set to expand its offerings across the Middle East.
Funding Details and Investor Participation
The recent funding round included contributions from both existing and new investors, showcasing strong market confidence in Pluto’s business model. Notable participants in this round include:
- Rhino Ventures
- Born Capital
- Goanna Capital
- Evolution VC
- Freesearch VC
- Tiferes VC
Pluto’s Comprehensive Financial Management Solutions
Pluto offers an all-in-one financial management solution that integrates various features designed to enhance operational efficiency. Key offerings include:
- Dynamic Budget Tracking
- AI-Powered Corporate Cards
- Petty Cash Management
- Procurement and Invoice Processing
- Vendor Management
This innovative platform caters to both SMEs and larger enterprises, with distinguished clients such as Property Finder, Knight Frank, and Petrochem benefiting from its services.
Expansion Plans into New Markets
The newly acquired capital will facilitate Pluto’s expansion into key markets, including:
- Saudi Arabia
- Turkey
- Bahrain
- Kuwait
- Qatar
Moreover, Pluto aims to enhance its AI-driven capabilities to develop a fully automated accounts payable management platform tailored for SMEs.
Vision for the Future
According to Mohammed Aziz, CEO of Pluto, the expectations of SMEs from financial institutions are evolving. He stated, “In 2025, SMEs expect way more from their banks than just using them as depository accounts. Value-added services are a key strategy for most banks in the region. Partnering with banks and financial institutions allows Pluto to bring our world-class solutions to more customers globally and allows such institutions to provide a world-class experience back to their customers.”
For more insights into the evolving landscape of corporate finance solutions, check out our related articles on corporate finance trends and startup funding strategies.
Stay tuned for more updates on Pluto’s upcoming initiatives and its impact on the financial tech ecosystem in the UAE and beyond!
