Pemo Raises $7M Pre-Series A for Spend Management and Corporate Cards

Pemo announced a $7M pre-Series A funding round led by Shorooq Partners and Augmentum Fintech, as reported in a fintech funding round-up on November 22, 2024. Pemo provides spend management and corporate card solutions, operating in the embedded finance space by enabling businesses to manage expenses through integrated financial tools. The platform combines corporate cards with expense tracking and approval workflows, representing a BaaS-adjacent model where banking products like cards are embedded into business operations.

Shorooq Partners' involvement signals strong MENA regional support, while Augmentum Fintech brings European fintech investment expertise. The funding will be used to expand Pemo's product capabilities and market presence. The corporate spend management category continues to attract funding as businesses increasingly adopt embedded financial tools for operational efficiency.