Is Pluto the Future of SME Financial Management?

What's the Deal

Mokshita P.
What's the Deal
Published:

Is Pluto the Future of SME Financial Management?

UAE-based fintech Pluto expands SME reach with seamless corporate cards, procurement, and banking integrations, positioning itself as a global leader in AI-driven financial management.

Pluto, the UAE-based corporate card and expense management platform, recently raised US$4.1 million in a pre-Series A funding round. This news comes just weeks after Mohammed Ridwan, Pluto's co-founder, announced that the company had surpassed AED 1 billion in managed spend.

The funding was led by a mix of existing and new investors, including Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC, and Tiferes VC. Rhino Ventures, in particular, highlighted Pluto’s ability to deliver a top-tier product that competes with global players, emphasising the company’s vision to become the future back office for enterprises in an AI-driven world.

What sets Pluto apart is its seamless unification of corporate cards, budgeting, petty cash management, and procurement all into a single platform. Since being founded in 2021 by Mohammed Ridwan, Mohammed Aziz, and Nayeem Zen, Pluto has rapidly gained traction with SMEs and large enterprises in the UAE, securing clients like Property Finder, Knight Frank, and Petrochem.

They've also launched Pluto Connect, which allows banks to integrate Pluto’s capabilities directly into their own offerings. Currently, Pluto powers over 30,000 SMEs globally through partnerships with banks, and with this new funding, they’re planning to expand further into markets like Saudi Arabia, Turkey, Bahrain, and Qatar. Mohammed Aziz, Pluto's CEO, mentioned how SMEs today expect more than just basic banking services; they want value-added offerings. That’s where Pluto fits in, helping banks deepen customer relationships and improve financial efficiency.

Pluto’s growth is significant, especially with their recognition as #1 in EMEA for Procure to Pay Solutions and their top 10 global ranking in expense management for both enterprises and SMBs. Their partnerships with companies like Mastercard and neoleap by Al Rajhi Bank show their commitment to expanding across the GCC and enhancing B2B payments.

So, if you’re looking critically, Pluto is positioning itself not just as another corporate card platform but as a complete financial management solution that’s transforming how banks and institutions deliver value to SMEs. With AI-driven features and a focus on integrating services into banks’ existing systems, Pluto is clearly building something that’s more than just a tool—it’s a strategy for future growth.