Latest news with #MohammedAziz
Zawya
27-01-2025
- Business
- Zawya
UAE's fintech Pluto backs regional expansion plans via $4.1mln funding
UAE – Pluto, a corporate card and expense management platform, has raised $4.10 million in a pre-Series A funding round, according to a press release. The funding will support Pluto's expansion in Saudi Arabia and solidify its newly launched product, Pluto Connect, in the GCC market. The fundraising was led by Rhino Ventures, Born Capital, Goanna Capital, and Tiferes VC, among others. This transaction followed Co-founder Mohammed Ridwan's announcement that the company had crossed AED1 billion in spend under Pluto's management. Founded in 2021, Pluto's platform unifies dynamic budget tracking, AI-powered corporate cards with a cashback programme, petty cash management, procurement, invoice and vendor management into a single, intuitive product. With this fresh injection of capital, Pluto will forge additional partnerships, with markets including Saudi Arabia, Turkey, Bahrain, Kuwait, and Qatar. Pluto currently powers over 30,000 SMEs through Pluto Connect with one of the largest banks globally. Mohammed Aziz, CEO of Pluto, commented: '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,' Aziz added. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
CairoScene
26-01-2025
- Business
- CairoScene
UAE-Based Fintech Startup Pluto Secures $4.1Million Pre-Series
Pluto secures funding to enter Saudi Arabia, enhancing spend management tools with Pluto Connect for businesses across the GCC. Jan 26, 2025 Pluto, a UAE-based fintech startup, raised $4.1 million in a pre-series A funding round. The funding marks a milestone for the company as it sets its sights on expanding operations into Saudi Arabia and enhancing its flagship product, Pluto Connect, across the Gulf Cooperation Council (GCC) region. This funding round attracted a mix of investors, including Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC and Tiferes VC. Founded in 2021 by Mohammed Ridwan, Mohammed Aziz and Nayeem Zen, Pluto specialises in providing businesses with tools to manage their spending. Its offerings include both virtual and physical cards with built-in spend controls, designed to streamline financial operations for organisations of all sizes. The new funds will be allocated toward Pluto's expansion into Saudi Arabia, a key market for growth within the region. Additionally, the startup plans to enhance Pluto Connect, its proprietary product that simplifies and optimises business expense management. This latest funding follows a $6 million seed round in early 2022, led by Global Founders Capital.
CairoScene
26-01-2025
- Business
- CairoScene
UAE-Based Fintech Startup Pluto Secures $4.1Million Pre-Series A
Pluto secures funding to enter Saudi Arabia, enhancing spend management tools with Pluto Connect for businesses across the GCC. Jan 26, 2025 Pluto, a UAE-based fintech startup, raised $4.1 million in a pre-series A funding round. The funding marks a milestone for the company as it sets its sights on expanding operations into Saudi Arabia and enhancing its flagship product, Pluto Connect, across the Gulf Cooperation Council (GCC) region. This funding round attracted a mix of investors, including Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC and Tiferes VC. Founded in 2021 by Mohammed Ridwan, Mohammed Aziz and Nayeem Zen, Pluto specialises in providing businesses with tools to manage their spending. Its offerings include both virtual and physical cards with built-in spend controls, designed to streamline financial operations for organisations of all sizes. The new funds will be allocated toward Pluto's expansion into Saudi Arabia, a key market for growth within the region. Additionally, the startup plans to enhance Pluto Connect, its proprietary product that simplifies and optimises business expense management. This latest funding follows a $6 million seed round in early 2022, led by Global Founders Capital.
