Stephenson Harwood advises Augmentum Fintech on investment

Stephenson Harwood LLP has advised Augmentum Fintech on its investment into Pemo, an innovative expense management solution serving customers across the Middle East.

Augmentum Fintech is the UK’s only publicly listed investment company focusing on the fintech sector in the UK and across Europe. Pemo is an expense management provider which uses AI-driven automated accounting, real-time spend analytics and smart payment workflows to allow its clients to have full visibility and control of their financial data and ensure ongoing compliance with relevant laws and regulations.

The investment by Augmentum Fintech has taken place alongside Abu Dhabi-based Shorooq Partners, and join existing investors Cherry Ventures, Speedinvest and Fintech Collective.

A proportion of the funding will be used to help Pemo drive growth into new markets in the GCC, including Saudi Arabia, which is fast-becoming a major technology hub with an appetite for smart, digitally-connected solutions.

Partner Melissa Forbes-Miranda, who led the Stephenson Harwood team on this transaction, said, “This transaction is significant for Pemo’s strategic expansion. It also highlights our capabilities and growing track record in tech-based financial services solutions.”

The Stephenson Harwood team was led by Dubai-based corporate and commercial partner Melissa Forbes-Miranda, who was supported by associates Suditi Surana and paralegal Jeevni Sharma.  Dubai-based partner Phil Clarke provided financial services regulatory advice. Further support was provided by Dubai-based partner Emily Aryeetey and associate Emily Daly on employment law issues.