Omani trade-finance platform mamun raises a $3M seed round

Omani trade-finance platform mamun raises a $3M seed round. The Muscat-founded company announced the raise on 4 November 2026. The round was led by Phaze Ventures through its Oman Fund, which is backed by Future Fund Oman, an investment vehicle of the Oman Investment Authority. Abu Dhabi-based Jasoor Ventures also participated. The company did not disclose the amount contributed by each investor. mamun is a Sharia-compliant platform that finances the gap between shipment and payment for exporters and importers. An exporter that ships goods may wait 60 to 90 days for payment, while traditional banks often require longer financial track records than smaller businesses can show. The platform uses AI-native underwriting that assesses the company behind the trade, the contract, the buyer, the trade documents and the trading history. Investors on the platform then supply the financing. The Omani entity operates under the Financial Services Authority’s crowdfunding framework. The company also has entities in Abu Dhabi and Hong Kong. Since it began operations in the fourth quarter of 2023, mamun has facilitated nearly $20 million in financing, covering more than 175 facilities for 84 businesses, of which 78 are Omani companies. Around 40 percent of its trade-finance activity by value is linked to Hong Kong, China’s Greater Bay Area and mainland China, with settlements through Hong Kong-based financial institutions and businesses. The company established Mamun Hong Kong Limited in February to strengthen its presence on the corridor. Co-founder and CEO Saleh Al Tamami said the businesses moving goods between the Gulf and Asia are growing faster than the financing behind them and that the round scales the origination and underwriting engine that serves the corridor. The new capital will support three areas: identifying potential trade-finance transactions, improving AI-based risk assessment, and strengthening the monitoring and collection processes that follow financing. The company has partnered with Credit Oman to apply trade-credit insurance to eligible facilities. Beyond trade finance, mamun supplies the technology behind Iskan, Oman Housing Bank’s digital financing platform. Al Tamami said Iskan had processed more than RO 400 million in housing financing, with the bank providing the funds and mamun supplying the technology. Phaze Ventures, founded in 2018, is Oman’s oldest private venture capital firm and invests through its Oman Fund in homegrown, AI-enabled Omani businesses. Abdullah Al Shaksy, co-founder and CEO of Phaze Ventures, said the firm’s thesis is backing companies that turn Oman’s diversification agenda into regional infrastructure and that mamun fits that description. Jasoor Ventures is an early-stage firm that backs technology founders across the Middle East, North Africa and Turkey. Investors representing more than 55 nationalities across more than 25 countries have participated in financing through the platform. For exporters the practical change is an additional source of short-term working capital that can assess a specific shipment and counterparty rather than relying solely on a long banking relationship. The value of the raise depends on whether mamun later reports higher financed volumes, faster assessment times or expanded coverage along the Greater Bay Area–Oman–UAE corridor. Other platforms and banks already offer trade-finance products, some with AI-assisted screening. mamun’s version combines Sharia-compliant structures, a regulated Omani crowdfunding base and entities positioned at both ends of the Gulf–Asia route. If the next update from mamun or its investors names specific new volumes, customer segments or integration milestones after the seed, the raise has a measurable follow-through. If the next statement only restates the $3 million total and the intended use of proceeds, the change for the market remains the same as the 4 November announcement. The figures missing from the current disclosure are the individual investor contributions, any post-raise valuation and audited confirmation of the nearly $20 million facilitated to date. The raise is one step in an Omani platform’s effort to close part of the trade-finance gap for smaller businesses trading between the Gulf and Asia.