Expenses management is a significant cost and distraction for small-to-medium businesses. Unlike larger enterprises which may have in-house solutions or bespoke packages, SMEs rely on a mismatched selection of services and processes, leading to irregularities and high costs. Pemo exists to make expenses simpler for businesses in the Middle East and North Africa (MENA) region, offering invoicing, approval processes and monitoring on a single platform.
Other spend management startups have attracted investment in recent years, including Ramp, Pleo and Spenmo, but no solution exists yet for the MENA region, giving Pemo a large niche to operate in. With 23 million small-medium enterprises in the region with limited payments solutions available, Pemo has significant room to grow, and its local expertise and experienced founding team will give it an advantage over other startups hoping to grow into the region.
Pemo has secured investment in a seed funding round led by Cherry Ventures and Shorooq Partners. It will move to expand its operations in the MENA region, increasing its business in Saudi Arabia before extending to Egypt and Pakistan.
Steph
Company Specialist at Welcome to the Jungle