Ramp backed Pluto raises $4.1mln pre-series A to drive KSA expansion
Summary
Having demonstrated a speed of execution and quality of product on par with global leaders in the space, we feel privileged to partner with the team at Pluto, says Rhino Ventures.Pluto has previously received backing from Silicon Valley spearheads including investment leaders like Ramp, Soma Capital, Graph Ventures and angel investors including Plaid Co-founder Willliam Hockey, Not Borings Packy McCormick and past executives from Cash App, Shopify, Amazon and more.Founded in 2021 by Mohammed Ridwan, Mohammed Aziz and Nayeem Zen, Plutos platform unifies dynamic budget tracking, AI-powered corporate cards with an unmatched cashback program, petty cash management, procurement, invoice and vendor management into a single, intuitive product. With this fresh injection of capital, Pluto will double down on its bank-integrated approach, forging additional partnerships globally - with markets including Saudi Arabia, Turkey, Bahrain, Kuwait and Qatar - and further enhancing its AI-driven capabilities to deliver on a fully automated Account Payables management platform for SMEs.In 2025, SMEs expect way more from their banks than just using them as depository accounts. By eliminating the need for shared corporate cards, manual data entry and lengthy reconciliation periods, Pluto empowers banks and financial institutions to deliver a seamless, value-added experience that deepens customer relationships, streamlines workflows and drives meaningful financial efficiency for SMEs.This raise is a significant step forward in Plutos growth strategy. The news follows recent achievements, including being ranked #1 in EMEA for Procure to Pay Solutions and recognised as a Top 10 provider globally in both Enterprise and SMB Expense Management by G2, Plutos collaboration with neoleap by Al Rajhi Bank to expand operations into Saudi Arabia and Plutos strategic partnership with Mastercard to further fuel B2B payment solutions across the GCC.For further information please contact: Caroline@coco-comms.mePluto is the most comprehensive & powerful corporate card and company spend management platform built for MENA businesses.From small businesses to the largest multi-national group holdings, businesses such as Property Finder, Knight Frank and Platinum Heritage have trusted Pluto with all of their non-payroll spending.Pluto combines the power of getting access to instant issuance unlimited corporate cards, full end-to-end employee reimbursements, digital petty cash management, procurement & account payables automation all within one platform.No more chasing for receipts, manually approving invoices on long email threads or sharing one corporate card with several people. Plutos enterprise platform brings control back to complex finance and accounting business processes and creates a streamlined approach to controlling your companys spending.Plutos Mission: At Pluto we are building the future of SME finance tooling which allows businesses to manage their entire global company spending within one collaborative and automated platform.