- Pemo Secures Preliminary Approval from UAE Central Bank to Launch SVF Services for the Fintech Sector
- The approval will enable the company to hold and manage corporate funds through digital wallet-like accounts once the licensing process is completed.
Pemo, the UAE-based corporate spend management platform, has received preliminary approval from the Central Bank of the UAE (CBUAE) to obtain a Stored Value Facilities (SVF) license, paving the way for the launch of integrated digital wallets that will allow businesses to store, manage, and spend funds directly through the platform.
Upon completing the remaining regulatory requirements in the coming months, Pemo will be able to hold and manage corporate client funds on their behalf through digital wallet-like accounts.
The move is expected to provide small and medium-sized enterprises (SMEs) with greater flexibility in managing cash flow and funding corporate cards without relying on traditional bank accounts for every transaction.
The SVF license, regulated by the UAE Central Bank, enables licensed entities to offer digital stored-value accounts and payment services within an approved regulatory framework.
Founded in 2022, Pemo has expanded its customer base to serve more than 6,000 businesses across the UAE, including major companies such as Talabat, Sodexo, and Al Marwan Holding Group.
The platform combines smart corporate cards, automated expense tracking, and accounting software integrations into a single solution designed to help SMEs streamline financial operations and improve expense management.
Pemo plans to leverage the preliminary approval to broaden its financial services offering by developing new products alongside its existing expense management platform, with the goal of delivering a more comprehensive financial ecosystem for SMEs in the UAE.
Commenting on the milestone, Ayham Gorani, Co-founder and CEO of Pemo, said the approval reflects the trust the platform has earned from its customers.
He added that the development will support the company’s expansion into financial services beyond expense management, making business finance simpler, more efficient, and more accessible for SMEs.
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