Pemo, a Dubai-based spend management platform, has officially entered the Saudi Arabian market.

Backed by US$19 million in funding from international investors, the company is introducing its suite of financial tools aimed at businesses of all sizes.

These include smart corporate and virtual cards, automated receipt collection, and AI-powered accounting to support expense tracking and invoice management.

With a growing number of Saudi companies looking to digitise their financial operations in line with Vision 2030, Pemo hopes its entry will contribute to Saudi’s evolving fintech sector.

The company has partnered with neoleap, a subsidiary of Al Rajhi Bank, to integrate its platform with neoleap’s payment infrastructure.

Through this collaboration, the companies aim to offer businesses improved control over their financial operations.

Commenting on the expansion, Ayham Gorani, Pemo’s Co-Founder, said:

“By launching in Saudi, and partnering with 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.

Abdullah Alibrahim, CEO of neoleap, added:

“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.”

In the coming year, the company plans to grow its local team and contribute to talent development in Saudi Arabia’s tech sector.

Featured image credit: Pemo