
- Pluto successfully secured a pre-Series A funding round with the participation of prominent investors such as Rhino Ventures and Born Capital to support its expansion.
- Pluto offers a platform that includes corporate cards, budget management, procurement, and invoicing, with AI-powered features.
- The company aims to strengthen its partnerships with banks and enter new markets, including Saudi Arabia, Turkey, and Bahrain.
Pluto, a UAE-based fintech company specializing in corporate cards and expense management, announced that it has successfully raised $4.1 million in a pre-Series A funding round.
The round was led by Rhino Ventures, a Canadian firm specializing in early-stage venture investments, along with Born Capital, which supports technologies focused on CFOs, Goanna Capital, known for backing companies like Ramp, Rippling, and Figma, Evolution VC, which has invested in unicorns like Brex, Ramp, and Freshbooks, as well as Freesearch VC and Tiferes VC.
Pluto was founded in 2021 by Mohammed Ridwan, Mohammed Aziz, and Nayeem Zen. The platform offers comprehensive solutions that include dynamic budget tracking, AI-powered corporate cards, unique cashback programs, expense management, procurement, invoicing, and supplier management, all through a user-friendly interface. Since its launch, Pluto has gained rapid traction in the UAE, serving leading companies such as Property Finder, Knight Frank, Tamara, and Petrokem.
Recently, the company launched “Pluto Connect,” a groundbreaking solution that allows banks and financial institutions to seamlessly integrate corporate card capabilities and expense management into their products, enabling them to modernize their commercial banking offerings.
Currently, Pluto supports over 30,000 small and medium-sized enterprises through “Pluto Connect,” in collaboration with one of the world’s largest banks. With the new capital injection, the company plans to enhance its global partnerships, particularly in key markets like Saudi Arabia, Turkey, Bahrain, Kuwait, and Qatar. It also aims to further develop its AI-driven technologies to provide a fully automated payment management platform for SMEs.