UAE-based fintech startup Pluto has raised us$4.1 million in a pre-series A funding round.

Investors in this round include Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC, and Tiferes VC.

Pluto was founded in 2021 by Mohammed Ridwan, Mohammed Aziz, and Nayeem Zen. The company provides businesses with tools to manage spending using virtual and physical cards with spend controls.

The newly acquired funds will be used to expand Pluto’s services into Saudi Arabia and to enhance its product, Pluto Connect, within the GCC market.

In early 2022, Pluto raised US$6 million in a seed round led by Global Founders Capital.