- Pluto raised $4.1M in pre-Series A funding to expand in Saudi Arabia and enhance Pluto Connect’s capabilities.
- Pluto Connect enables banks to offer seamless corporate card and expense management services to SMEs.
- Recognized globally for innovative solutions, Pluto focuses on revolutionizing financial services in the GCC market.
UAE-based fintech company Pluto has successfully raised $4.1 million in a pre-Series A funding round. This milestone signifies a significant step toward expanding operations in Saudi Arabia and strengthening its presence in the GCC region.
The funding round was backed by prominent investors such as Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC, and Tiferes VC. With this financial boost, Pluto plans to scale its recently launched solution, Pluto Connect, which enables banks to integrate corporate card and spend management capabilities into their products seamlessly.
About Pluto
Founded in 2021 by Mohammed Ridwan, Mohammed Aziz, and Nayeem Zen, Pluto offers an all-in-one expense management platform. Its services include dynamic budget tracking, AI-powered corporate cards, and solutions for procurement, invoice, and vendor management. Pluto serves more than 30,000 SMEs and enterprises in the UAE, with clients such as Property Finder and Tamara.
The Vision for KSA Expansion
Pluto’s new funding will focus on expanding its reach in Saudi Arabia and neighboring GCC countries. By enhancing its AI-driven capabilities, the company aims to provide fully automated account payable management for SMEs. Through partnerships with major financial institutions, Pluto is set to revolutionize commercial banking in the region.
Achievements and Partnerships
The company recently collaborated with neoleap by Al Rajhi Bank to strengthen its presence in Saudi Arabia. It has also partnered with Mastercard to advance B2B payment solutions. Pluto has been recognized as a top provider globally in enterprise and SMB expense management by G2.
Quoting the Founders
“In 2025, SMEs demand more from their banks than traditional services. Our partnerships enable us to bring value-added solutions to customers globally,” said Mohammed Aziz, CEO of Pluto.
Conclusion
Pluto is rapidly positioning itself as a leader in financial innovation within the GCC. With its bank-integrated solutions and customer-first approach, the company is poised to deliver exceptional value to SMEs and enterprises.
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Last Updated on January 24, 2025 by Safiya K
