Dubai, United Arab Emirates: Pluto, the UAE’s leading home-grown end-to-end spend management platform, has achieved a significant milestone by securing an In-Principle approval for its Payment Services Business from the Dubai Financial Services Authority (DFSA). This pivotal achievement underscores Pluto’s commitment to offering cutting-edge financial infrastructure to small and medium-sized businesses (SMBs) and corporations operating within the UAE and the wider region, leveraging the strategic advantages of the Dubai International Financial Centre (DIFC).
“We are thrilled to receive this In-Principle approval from the DFSA,” said Mohammed Ridwan, Co-Founder and COO of Pluto. “This endorsement highlights our dedication to delivering innovative financial solutions through regulated partnerships and pioneering fintech collaborations. At Pluto, our mission is to shape the future of CFO finance tooling, enabling businesses to manage their entire global company spending on a single, collaborative, and automated platform.”
Pluto’s platform revolutionizes corporate spending management by offering features such as instant issuance of unlimited corporate cards, comprehensive end-to-end reimbursements, petty cash management, procurement, and accounts payable management. The platform is trusted by a wide array of enterprises, from small businesses to large multinational conglomerates, for efficiently managing all non-payroll expenditures.
For both SMBs and large enterprises, Pluto streamlines expense management and payment processes, eliminating the inefficiencies associated with traditional methods like chasing receipts, manual invoice approvals, and shared corporate cards. By automating these processes, Pluto empowers businesses to regain control over complex finance and accounting workflows, providing a streamlined solution for managing company spending.
In recent recognition of its excellence, Pluto ranked #1 in the EMEA region for Procure to Pay Solutions and was named a Top 10 global provider in both Enterprise and SMB Expense Management by the prestigious G2 Rankings (Summer 2024).
With this approval, Pluto is poised to enhance its offerings and further support the financial needs of businesses in the UAE and beyond.
