Pemo, a comprehensive spend management platform, has officially launched in Saudi Arabia, offering innovative financial solutions tailored for businesses across the Kingdom. The company, which has secured $19 million in funding from international investors, aims to provide smart corporate and virtual cards, automated receipt collection, and AI-driven accounting to simplify expense tracking and invoice management.

With its entry into the Saudi market, Pemo seeks to contribute to the development of the Kingdom’s burgeoning FinTech ecosystem, which aligns with the goals of Saudi Arabia’s Vision 2030 aimed at fostering a digital-first economy. The partnership with neoleap, a subsidiary of Al Rajhi Bank, allows Pemo to integrate its user-friendly spend management platform with neoleap’s advanced payment infrastructure, enabling businesses to gain full control over their finances.

Currently, over 6,000 customers utilize Pemo’s services, and the collaboration with neoleap is seen as a strategic step as the company establishes its presence in Saudi Arabia. Pemo plans to focus on servicing businesses while also investing in local talent over the next year. A significant priority for the company is to support the growth of Saudi Arabia’s FinTech ecosystem and create opportunities for emerging leaders in the field.

Ayham Gorani, Co-Founder of Pemo, expressed optimism about the launch, stating that “Saudi Arabia is undergoing a remarkable economic transformation, and businesses need smart, efficient financial solutions to fuel their growth efforts.” He emphasized the commitment to aiding the Kingdom’s movement towards a cashless future in line with Vision 2030.

Echoing this sentiment, Abdullah Albrahim, CEO of neoleap, highlighted the partnership’s role in reshaping the financial landscape, stating that “this collaboration reflects our shared vision of enabling businesses to make smarter financial decisions.” Pemo’s expansion into Saudi Arabia coincides with its third anniversary and recognition among the UAE’s Top Future 100 companies and Forbes’ Top UAE fintech firms.