Venture in Dubai's financial technology sector collects $4.1 million before Series A round for expansion of its corporate expenditure management system
Pluto Raises $4.1 Million to Expand Corporate Card and Expense Management Services
Pluto, a Dubai-based startup, has recently secured $4.1 million in a pre-Series A funding round. This investment will enable Pluto to expand its offerings and reach more businesses in the UAE and beyond.
Founded in 2021 by Mohammed Ridwan, Mohammed Aziz, and Nayeem Zen, Pluto offers a corporate card and expense management platform that is currently serving over 30,000 Small and Medium Enterprises (SMEs) in partnership with one of the world's largest banks.
According to Mohammed Aziz, CEO of Pluto, SMEs expect more from their banks than just using them as depository accounts. By partnering with banks and financial institutions, Pluto can bring its solutions to more customers globally. In 2025, Aziz stated that SMEs are seeking integrated financial services that cater to their unique needs.
Pluto's investors include firms that have backed unicorns like Brex, Ramp, Rippling, and Figma. The funding round was led by Rhino Ventures, with participation from Born Capital, Goanna Capital, Evolution VC, Freesearch VC, and Tiferes VC. The startup has also received backing from Silicon Valley investors such as Plaid Co-founder William Hockey, Not Boring's Packy McCormick, and former executives from Cash App, Shopify, and Amazon.
Pluto recently launched Pluto Connect, a solution that enables banks and financial institutions to embed its corporate card and spend management capabilities into their own products. This innovation allows Pluto to offer its services to a wider range of businesses, further expanding its reach.
Pluto's platform offers a variety of services, including dynamic budget tracking, AI-powered corporate cards with cashback programs, petty cash management, procurement, and invoice and vendor management. The platform is integrated with major ERP systems (except Tally), and offers features such as branch- and subsidiary-level spend tracking, WhatsApp integration for easy receipt uploads, and up to 2% cashback on non-AED transactions.
The company is continuing to refine its platform and recently introduced "Pluto Control," a new standard for procurement to enhance corporate spending controls and workflows. Customers like BloomingBox and UDrive report significant improvements in real-time expense visibility, automated approvals, and operational scaling without extra staffing due to Pluto’s tools. Hundreds of restaurants in Dubai also use Pluto’s solution, reflecting growing adoption in various sectors.
Looking ahead, Pluto appears committed to further customer engagement and education, with scheduled online webinars and demos announced for August 2025, indicating plans to grow its user community and feature set. With its robust product, positive customer feedback, and ongoing user engagement initiatives, Pluto is well-positioned to continue its growth and expansion in the corporate card and expense management market.
[1] Source: Pluto Press Release, 2025 [2] Source: Gulf News, 2025 [3] Source: Pluto Blog, 2025 [4] Source: Pluto Events Calendar, 2025
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