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# UAE-based fintech Pemo secures $12 million in funding
- URL: https://www.techloy.com/uae-based-fintech-pemo-secures-12-million-in-funding/
- Published: 2022-05-18T13:48:19.000Z
- Updated: 2022-12-08T00:43:17.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Fintech, Tech in UAE

[Pemo,](https://www.pemo.io/) an expense management fintech startup based in UAE has secured $12 million in its seed funding round. 

- The funds will be used to further develop its product offering, and expand its operations into Saudi Arabia by the end of 2022.
- Pemo is a fintech startup helping businesses in the Middle East, North Africa and Pakistan (MENAP) to access integrated and transparent expense management solutions with smart corporate cards for small and medium-size enterprises.
- The funding round was led by Cherry Ventures and Shorooq Partners with participation from FinTech Collective, Speedinvest, BY Venture Partners, Antler and private angel investors.