Pemo, a fintech company based in Dubai, has raised US$7 million in its pre-series A funding round led by Shorooq and Augmentum Fintech.

The funds are expected to enhance Pemo’s operations and support expansion into new GCC markets, including Saudi Arabia.

The company plans to use the investment to improve its spend management platform, which is known for offering corporate virtual and physical cards alongside automated financial tools.

Pemo was founded by former executives from Rocket Internet and Google. It currently has over 4,000 clients who use its software to manage expenses.