Abu Dhabi, UAE – mamun, a Sharia-compliant trade finance platform connecting businesses and investors to fund cross-border trade, has raised a $3 million seed round. The round was announced on 4 November 2026.
It was led by Phaze Ventures through its Oman Fund, with participation from ADGM-based venture capital firm Jasoor Ventures.
About mamun
- Bases: licensed in Muscat by Oman’s Financial Services Authority, with entities in Abu Dhabi and Hong Kong SAR
- Founders: Saleh Al Tamami (CEO), Mohammed Al Tamami (Chief Commercial Officer) and Ahmed Al-Issaei (CTO)
- Recognition: named a Rising Star in the Deloitte Technology Fast 50 Middle East 2025
How it works
mamun uses AI-driven underwriting that assesses both the company and the specific trade – including the contract, buyer, documents and trading history. Investors on the platform then finance the funding gap, helping exporters who often wait 60 to 90 days to be paid.
The problem it targets
The Asian Development Bank estimates the global trade finance gap at $2.5 trillion, and around 41% of SME trade finance applications are rejected. About 40% of mamun’s settlements already clear through Hong Kong-based institutions and businesses.
What’s next
The startup will use the funding to expand its AI-based origination and underwriting and grow trade volumes along the Greater Bay Area–Oman–UAE corridor, as Gulf trade with Asia continues to rise.
Source: Malay Mail / Media OutReach.
