The pre-Series-A funding of $4.1 million successfully completed the biggest corporate card and expense management platform known as Pluto in the UAE. The announcement comes as co-founder Mohammed Ridwan has recently reported a milestone that the amount managed through Pluto has surpassed AED 1 billion.  

pluto’s founders (left to right) mohammed aziz, mohammed ridwan and nayeem zen
Pluto’s Founders (left to right) Mohammed Aziz, Mohammed Ridwan and Nayeem Zen

PC: Zawya

The funding attracted the participation of both existing and new investors, with broad-based support from premier venture capital firms such as Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC, and Tiferes VC. These firms have a remarkable track record for backing successful tech-driven companies such as Ramp, Brex, and Figma.  

“To meet the needs of an unexplored market in modern procure-to-pay systems, Rhino Ventures commended Pluto’s innovative solutions. Their vision certainly is to be the future back office for enterprises aligned with an AI-augmented world. The team at Pluto showed the speed of execution and product quality on a par with any global leader,” stated Rhino Ventures.  

Great Support by Investors  

Founded in 2021 by Mohammed Ridwan, Mohammed Aziz, and Nayeem Zen, Pluto has garnered previous support from Silicon Valley investors like Ramp; Soma Capital; Graph Ventures; and from angel investors such as Plaid co-founder William Hockey. Its quick traction has been achieved among SMEs and enterprises in the UAE partnering with companies like Property Finder; Knight Frank; Tamara; and Petrochem.  

The platform Pluto offers a unified expense management platform with dynamic budget tracking, AI-powered corporate cards with unrivaled cashback programs, petty cash management, procurement, invoicing, and vendor management.  

Launch of Pluto Connect  

Recently, Pluto unveiled its premium product, Pluto Connect, which powers banks and financial institutions. This one-of-a-kind solution puts corporate cards and spending management squarely in banks; this process is paired with the enhancement of modern commercial banking products that will benefit 30,000 SMEs with leading global banks as partners. 

This new funding will enable Pluto to continue expanding its bank-integrated approach into markets such as Saudi Arabia, Turkey, Bahrain, Kuwait, and Qatar. The Company also seeks to enhance its AI-driven capabilities to develop a fully automated accounts payable management platform for SMEs.  

“In 2025, SMEs expect more than simple banking services. Partnering with banks allows us to bring world-class solutions to a global customer base while enabling those institutions to provide superior value to its clients,” said Mohammed Aziz, CEO of Pluto.  

Recognition and Partnerships  

In the UAE, Pluto is the only platform that fuses AI-driven financial management, procurement, and invoice automation into a single solution. By eliminating manual processes and increasing efficiency, Pluto empowers banks and SMEs to optimize operations and improve financial control.  

This funding milestone follows Pluto being recognized as the top-ranked platform for procure-to-pay solutions in EMEA by G2 and being named one of the top 10 global providers for expense management. In addition, Pluto has partnered neoleap by Al Rajhi Bank for an expansion into Saudi Arabia and Mastercard to further B2B payment solutions across the Gulf Cooperation Council.  

Now with these achievements, Pluto is quite set to establish itself in the region and deliver cutting-edge, AI-powered financial solutions for companies and banks alike.