Fundraising Fox

Spenmo

Defunct

Singapore, SG · Founded 2019 · 15 known investors

Find your way into Spenmo

721 people in our graph share verified history with the Spenmo team — schools, employers, funds. One of them is your warm intro.

Luna Schmidunlockedknows Mohandass Kalaichelvan · together at Morgan Stanley (overlapped)
×5knows the team · via Morgan Stanley
×2knows the team · via Raffles Institution
knows the team · via The Boston Consulting Group
knows the team · via The Kraft Heinz Company
×2knows the team · via Dartmouth College

Spenmo provided a spend management platform for businesses, offering bill management with smart scanning and accounting integrations, corporate Visa debit cards, and reimbursement workflows through licensed payment partners. The company, based in Singapore, ceased operations in August 2025.

Enterprise SoftwareFintechSaaS

Founders & leadership

Spenmo was founded in 2019 by Isaq Ahmed Mukthar and Mohandass Kalaichelvan.

IAIsaq Ahmed Mukthar
Isaq Ahmed MuktharinCo-Founder & CTOCo-founder and CTO of Spenmo (YC S20). Y Combinator describes him as building software since 2003. DealStreetAsia also referred to him as Isaq Ahmed at the Series B announcement.
MKMohandass Kalaichelvan
Mohandass KalaichelvaninCo-Founder & CEOFormer BCG consultant and Grab regional strategy/fintech lead who founded Spenmo in 2019. He stepped down as CEO in 2023 after investor intervention over risk and compliance issues, later starting hotel-finance startup Veridian.

Investors · 15

ITERATIVESeattle
Locus VenturesPalo Alto
Operator StackSouth Lake Tahoe
Rocket Internet SEBerlin
Silicon VenturesSeattlevia Liza Wang · inferred
AdditionreportedNew York · $1M – $500M
Commerce VenturesreportedSan Francisco · $1M – $5M
Global Founders Capitalreported · 2 sourcesBerlin · $637K – $32M
Insight Partnersreported · 2 sourcesNew York · $120M – $350M
Operator PartnersreportedNew York
Salesforce VenturesreportedSan Francisco · $5M – $50M
Team Ignite Venturesreported
Tiger Global Managementreported · 2 sourcesNew York · $1M – $100M

Also in the syndicate · 2

Alpha JWCBroadhaven

Funding

SEC filings, press & company announcements

$34M disclosed across 1 of 2 rounds · 2021–2022

Source: company announcements and press reports — follow each round's link for the claim.

Founder mafia

2 people who came through Spenmo went on to found or lead other companies.

Mohandass KalaichelvanCo-Founder & CEOFounded SpenmoIsaq Ahmed MuktharCo-Founder & CTOFounded Spenmo

In the news

SG's Spenmo raises $85.35m in Series B round led by Tiger Globaldealstreetasia.com · Jan 2022Fintech Spenmo raises $34m in Series A roundfintechfutures.com · Sep 2021Spenmo Raises US$34M in Series A Fundingfinsmes.com · Sep 2021Insight Partners leads $34M round in Singapore-based fintech Spenmo | TechCrunchtechcrunch.com · Sep 2021Spenmo Announces US$34 Million Series A Funding Round Led by Insight Partnersprnewswire.com · Sep 2021Spenmo Awarded Series B Fundingnewsfilecorp.com

Frequently asked questions

What does Spenmo do?
Spenmo provided a spend management platform for businesses, offering bill management with smart scanning and accounting integrations, corporate Visa debit cards, and reimbursement workflows through licensed payment partners. The company, based in Singapore, ceased operations in August 2025.
Who founded Spenmo?
Spenmo was founded by Isaq Ahmed Mukthar, Mohandass Kalaichelvan in 2019.
Who are Spenmo's investors?
Spenmo's investors include ITERATIVE, Locus Ventures, Operator Stack, Rocket Internet SE, Silicon Ventures, Addition, Commerce Ventures, Global Founders Capital and 5 more.
How much funding has Spenmo raised?
Spenmo has disclosed $34M raised across 1 of its 2 known rounds.
Where is Spenmo headquartered?
Spenmo is headquartered in Singapore, SG.