Pluto (getpluto.com)

Pluto is a corporate spend management platform based in Dubai, UAE, offering solutions to businesses in the Middle East and North Africa (MENA) region. Founded in October 2021 by Mo Aziz, Mohammed Ridwan, and Nayeem Zen, Pluto provides expense management tools designed to help businesses digitize their cash spend. The company's platform allows businesses to connect their existing bank accounts and create unlimited virtual or physical spend cards with controls that can be distributed to employees. These cards can be used as an alternative to personal cards or cash distributions, providing real-time visibility on expenses and reducing the risk of fraudulent transactions.

Pluto's core offerings include unlimited smart corporate cards, expense management software, and integration with major accounting platforms. The platform automates the process of receipt collection and reconciliation, streamlining expense reporting and providing detailed insights on business spend data. In July 2024, Pluto received an in-principle approval for Payments Services Business from the Dubai Financial Services Authority (DFSA), marking a significant milestone for the company's operations in the Dubai International Financial Centre (DIFC).

The company offers a freemium model, with a free base version of the platform and a premium tier that unlocks additional features. Pluto generates revenue through subscription fees for its premium services and interchange fees charged to vendors who accept Pluto cards. As of Summer 2024, Pluto ranked #1 in EMEA for Procure to Pay Solutions and was recognized as a Top 10 provider globally in both Enterprise and SMB Expense Management by G2 Rankings.

Key customers and partnerships

Pluto caters to a diverse range of enterprises, from small businesses to large multinational group holdings, managing all non-payroll spending. The company has expanded its operations to Saudi Arabia and Bahrain, in addition to its presence in the UAE.

In November 2023, Pluto partnered with Mastercard to enhance its B2B payment solutions in the Gulf Cooperation Council (GCC) region. This collaboration aims to provide Pluto's clients with a wider range of efficient and secure payment options, leveraging Mastercard's expertise in payment technology. The partnership also supports Pluto's expansion plans in the GCC region, allowing the company to offer additional payment solutions to its clients.