Fintech company in Dubai secures $4.1 million in pre-Series A funding to expand its corporate expenditure management platform.
In the bustling tech scene of Dubai, Pluto, a corporate card and expense management platform, has secured $4.1 million in a pre-Series A round. This funding round was led by Rhino Ventures, with participation from Born Capital, Goanna Capital, Evolution VC, Freesearch VC, and Tiferes VC [1].
Pluto offers a unified platform for dynamic budget tracking, AI-powered corporate cards with cashback programs, petty cash management, procurement, and invoice and vendor management. The startup has gained significant traction in the UAE, working with companies such as Property Finder, Knight Frank, Tamara, and Petrochem [2].
Through Pluto Connect, Pluto currently serves over 30,000 Small and Medium Enterprises (SMEs) in partnership with one of the world's largest banks [3]. Its investors also include firms that have backed unicorns like Brex, Ramp, Rippling, and Figma [1].
Rhino Ventures and Born Capital, key investors in Pluto, are known for their focus on sectors like blockchain, gaming, and information technology. They typically target early-stage startups (Seed, Pre-Seed, Series A rounds) in regions including the UK, Switzerland, and Spain [1]. Their portfolio includes investments in NFT marketplaces, gaming, and decentralized metaverse platforms, as exemplified by companies like IQ Labs, Balthazar NFT Gaming, and Horizon Land [1].
The investment trends for platforms like Pluto and its investors show a strong inclination toward Web 3.0 technologies, Decentralized Finance (DeFi), NFT ecosystems, and metaverse projects—all emerging areas within fintech and blockchain sectors [1].
Recently, Pluto launched Pluto Connect, a solution that enables banks and financial institutions to embed its corporate card and spend management capabilities into their own products [4]. The platform was founded in 2021 by Mohammed Ridwan, Mohammed Aziz, and Nayeem Zen. Mohammed Aziz, CEO of Pluto, stated that in 2025, SMEs expect more from their banks than just using them as depository accounts, and partnering with banks allows Pluto to bring its solutions to more customers globally [4].
In the realm of business and finance, Pluto's AI-powered corporate cards and expanded expense management services, incorporating technology for dynamic budget tracking, petty cash management, procurement, invoice, and vendor management, continue to disrupt the sector, especially in Dubai and the UAE. With a strategic focus on early-stage startups in technology sectors like blockchain, gaming, and information technology, Rhino Ventures and Born Capital, key investors in Pluto, are positioning the platform at the forefront of emerging areas within fintech and blockchain, such as Web 3.0 technologies, Decentralized Finance (DeFi), NFT ecosystems, and metaverse projects.
