Pemo, a spend management fintech based in the UAE, has successfully processed $1.4 billion in transactions and raised $7 million in a pre-Series A funding round. Led by Augmentum Fintech and Shorooq Partners, the new funding aims to enhance Pemo's financial automation services for small and medium-sized businesses in the MENA region, supporting a market with significant growth potential for digital finance solutions.
Key Points:
- Investment Leaders: Augmentum Fintech and Shorooq Partners spearheaded the $7 million funding round.
- Transaction Milestone: Pemo reached a total transaction volume of $1.4 billion, highlighting its role in streamlining financial operations for regional SMEs.
- Market Focus: Funds will enhance Pemo’s spend management tools, which are tailored to MENA businesses’ needs for efficient payment tracking and budgeting.
- Growth and Development: Pemo plans to expand and improve its platform, leveraging automation to assist businesses with expense management and reporting
