Pluto Lands Funding From Corporate Spend Giants To Build ‘Ramp For The Middle East’
02/03/22, 1:00 PM
Industry
software
Here in the U.S., the corporate spend space is getting increasingly competitive, with several startups clamoring to gain market share.
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And today, the company is announcing that it’s just closed a $6 million seed round led by Global Founders Capital that included participation from firms such as Soma Capital, Graph Ventures, Adapt Ventures and OldSlip group. It’s early days yet, and Pluto is still in the pre-launch phase, but Aziz said that in just the few months since its inception, the startup already has 35 customers in its pipeline with zero marketing efforts. But with Pluto, the company claims, businesses can streamline spending by issuing unlimited virtual or physical cards with spend controls to employees while getting real-time visibility on their expenses through its expense management software. “The startup plans to use its new capital to, naturally, do more hiring, as well as secure bank partnerships and licenses as it works toward launching Pluto in the UAE and Saudi Arabia in the short-term and in Egypt, Pakistan and Bangladesh in the longer term. Besides its three co-founders, Pluto has two other employees with a fully remote team working between Canada, the U.S and the UAE. Pluto is starting the same way.