mamun Secures 3 Million Dollars to Scale Cross Border Trade Finance
Fintech platform mamun raised 3 million US dollars in seed funding to expand capital infrastructure along trade corridors linking Hong Kong Oman and Abu Dhabi
MAMUN, a Sharia-compliant platform specializing in trade finance capital infrastructure, has secured a US$3 million seed round to expand its operations. The investment, led by Phaze Ventures through its Oman Fund with participation from Jasoor Ventures, aims to scale MAMUN's AI-native underwriting and origination engine. The platform, founded by Saleh Al Tamami, Mohammed Al Tamami, and Ahmed Al-Issaei, addresses the global trade finance gap of US$2.5 trillion, with 41% of SME applications being rejected.
MAMUN's unique positioning lies in its ability to assess companies and shipments, as well as contracts, buyers, and trade documents, facilitating cross-border transactions that span multiple regulators, banking systems, and legal regimes. The platform's growth is fueled by increasing exports from Oman, particularly re-exports through the UAE, and a growing need for cross-border financing in the Greater Bay Area-Oman-UAE corridor.
The US$3 million funding will enable MAMUN to expand its operations and better serve the growing demand for trade finance along this critical trade route.
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