Pemo, the all-in-one spend management platform, has officially launched in Saudi Arabia, offering cutting-edge financial solutions to businesses of all sizes across the Kingdom.
Backed by $19 million in funding from global investors, the MENA-grown FinTech company will provide smart corporate and virtual cards, automated receipt collection, and AI-driven accounting to streamline expense tracking and invoice management, enabling Saudi companies to focus their time on innovating and driving the growth of their businesses.
By having a presence in the market, Pemo aims to help contribute towards building Saudi’s thriving FinTech ecosystem, which is being driven by the Kingdom’s transformative Vision 2030 goals and its ambitions to be a digital-first economy.
Partnering with neoleap, a subsidiary of alrajhi bank, Pemo will integrate its cutting-edge and user-friendly spend management platform with neoleap’s innovative payment infrastructure, meaning that Saudi businesses will have full control over their finances, optimising their operations for greater transparency and efficiency.
Over 6,000 customers already use Pemo, and the partnership with neoleap marks a natural step as the company enters the Saudi market. With government-backed initiatives, regulatory advancements and a thriving start-up scene, Pemo’s focus will be on both servicing businesses and hiring talent over the coming year. A key priority for Pemo is to nurture and help build Saudi’s FinTech ecosystem, providing opportunities for the next generation of leaders by investing in aspiring talent.
Commenting on the company’s launch into Saudi, Ayham Gorani, Co-Founder of Pemo, said: “Saudi Arabia is undergoing a remarkable economic transformation, and businesses need smart, efficient financial solutions to fuel their growth efforts. By launching in the Kingdom, and partnering with a trusted entity like neoleap, we’re bringing our platform to one of the most dynamic and forward-thinking markets in the region; we have always wanted to be in Saudi, and we are committed to helping support the Kingdom’s goal towards a cashless future as part of its Vision 2030 ambitions.
“At the same time, we’re excited to be investing in local tech talent and nurturing the next generation of FinTech leaders as we help towards building a sustainable, world-class FinTech ecosystem.”
Echoing this sentiment, Abdullah Albrahim, CEO of neoleap, said: “At neoleap, our mission is to reshape the financial landscape and equip businesses with the tools they need to thrive in an increasingly digital world. Our partnership with Pemo is a significant step in that direction, providing Saudi businesses with a seamless, AI-powered spend management solution fully integrated with neoleap’s advanced payment infrastructure. This collaboration reflects our shared vision of enabling businesses to make smarter financial decisions, while advancing Saudi Arabia’s FinTech ecosystem.”
Pemo’s move into Saudi Arabia marks three years of the business being in operation, with the company recently being named amongst the UAE’s Top Future 100 companies and Forbes’ Top UAE fintech companies.
