Mamun Raises $3M Seed Round to Scale AI-Powered Trade Finance Across Gulf-Asia

Mamun Co-founders: Ahmed Al-Issaei (CTO), Mohammed Al-Tamami (CCO), and Saleh Al-Tamami (CEO)

Ket Takeaways:

• Mamun, an Oman-based Sharia-compliant trade finance platform, secured a $3 million Seed round led by Phaze Ventures through its Oman Fund, with participation from Abu Dhabi-based Jasoor Ventures.
• The capital will finance the expansion of its artificial intelligence-driven underwriting engine across the Oman-UAE-Greater Bay Area trade corridor.

How Much Funding Did Mamun Raise, and Who Invested?

Oman-based trade finance platform Mamun has raised US$3 million in seed funding in a round led by Phaze Ventures, through its Oman Fund, with participation from Jasoor Ventures.

The company said the capital will support the expansion of its artificial intelligence (AI)-powered trade origination and underwriting capabilities across the corridor connecting the Greater Bay Area, Oman and the United Arab Emirates (UAE).

Mamun provides Sharia-compliant trade finance to exporters that need working capital while waiting for buyers to settle invoices. Its platform aims to address a financing gap that often affects smaller businesses, particularly those without the financial track records required by traditional lenders.

The seed round will help the company expand its ability to identify, assess and finance cross-border trade transactions through an operating model spanning Oman, Abu Dhabi and Hong Kong.

How Does Mamun's AI-Powered Trade Finance Platform Work?

Mamun finances the gap between when an exporter ships goods and when the buyer pays. This period can extend to 60–90 days, creating working-capital pressure for businesses that need to pay suppliers, employees and logistics providers before receiving payment.

For example, an exporter in Muscat may ship an order immediately but wait two to three months for payment. Banks may be reluctant to finance the transaction if the exporter lacks an established financial history or sufficient collateral.

Mamun uses AI to assess the underlying trade rather than relying solely on the borrower's conventional credit profile. Its platform evaluates several elements of each transaction:

• The exporter: The company behind the trade and its operating history.
• The shipment: The goods being transported and the details of the transaction.
• The contract: The commercial agreement governing the trade.
• The buyer: The counterparty responsible for payment.
• Trade documents: Documentation supporting the shipment and transaction.
• Transaction history: The previous relationship and trading record between the parties.

After assessing a transaction, Mamun lists the trade on its platform for investors. The company says its origination engine identifies and screens transactions as they emerge, helping connect exporters that need financing with investors seeking exposure to trade finance opportunities.

How Large Is the Global Trade Finance Gap?

Mamun is entering a market where access to trade finance remains a challenge for small and medium-sized enterprises (SMEs).

The Asian Development Bank (ADB) estimates that the global trade finance gap stands at US$2.5 trillion, while 41% of SME trade finance applications are rejected.

These constraints can affect exporters that have viable orders but lack the credit history, collateral or banking relationships needed to secure conventional financing.

Trade finance indicator	Figure	Implication
Global trade finance gap	US$2.5 trillion	Significant unmet demand for trade financing
SME trade finance applications rejected	41%	Many smaller businesses struggle to secure financing
Typical shipment-to-payment period cited by Mamun	60–90 days	Exporters need working capital while awaiting payment

By assessing the underlying trade, its counterparties and supporting documentation, Mamun aims to offer an alternative financing route for businesses that may be underserved by traditional banking channels.

Why Is Mamun Expanding Across Oman, the UAE and Hong Kong?

Cross-border trade finance involves more than assessing a company's ability to repay. Transactions can span multiple regulators, banking systems and legal frameworks, making it harder for financing providers to verify counterparties and move capital efficiently.

Mamun has built an operating structure across three key markets to address these challenges:

Market	Mamun's role
Oman	Home base and trade origination operations
Abu Dhabi, UAE	Regional operating presence
Hong Kong	Cross-border settlement and access to trade-related institutions

Mamun operates its home base and origination activities in Muscat under the Financial Services Authority's crowdfunding framework. It also has entities in Abu Dhabi and Hong Kong.

The company says approximately 40% of its trade finance settlements already clear through Hong Kong-based institutions and businesses, highlighting the importance of the market to its cross-border operations.

Mamun's licence allows it to bring in investors from both inside and outside Oman and finance businesses in both markets, according to the company.

The newly raised capital will support the expansion of its AI-based origination and underwriting capabilities along the Greater Bay Area-Oman-UAE corridor, connecting trade activity across the Gulf and Asia.

How Does Oman's Trade Growth Support Mamun's Expansion?

Oman's trade activity provides a domestic foundation for Mamun's expansion strategy.

The company points to growth in the country's non-oil trade as an opportunity for trade finance providers. Oman's non-oil exports increased by approximately 10% in the first seven months of 2026, while re-exports rose by 13.6% over the same period.

The UAE is also Oman's largest non-oil trading partner, reinforcing the importance of cross-border commercial flows between the two markets.

For Mamun, this trade corridor creates an opportunity to support exporters that need financing to fulfil orders, manage payment delays and maintain working capital as transaction volumes grow.

Who Are Mamun's Investors, Phaze Ventures and Jasoor Ventures?

The seed round brings together two venture capital firms with investment interests across the region.

Phaze Ventures, founded in 2018, is an Omani venture capital firm that invests through its Oman Fund in homegrown businesses, including companies developing AI-enabled solutions. Its investment in Mamun supports the development of an Omani platform targeting cross-border trade finance.

Jasoor Ventures is an Abu Dhabi Global Market (ADGM)-based venture capital firm investing across the Middle East, North Africa and Turkey. Its participation adds another regional investor to Mamun's seed round.

Their backing gives Mamun capital to develop its technology and expand its operations across markets that play an important role in Gulf-Asia trade.

What Does Mamun's Seed Funding Mean for AI-Driven Trade Finance?

Mamun's US$3 million seed round highlights investor interest in applying AI to financial infrastructure beyond consumer lending and payments.

The platform focuses on a specific challenge: financing legitimate commercial transactions when exporters cannot access conventional bank credit or cannot wait for buyers to settle invoices.

Its model combines trade-level assessment, AI-powered origination and investor participation within a Sharia-compliant financing framework. By operating across Oman, the UAE and Hong Kong, Mamun is also positioning itself to serve trade flows that extend beyond a single domestic market.

The next phase will depend on how effectively the company scales its origination and underwriting capabilities, attracts investors and manages transactions across different regulatory and banking environments.

With a US$3 million seed round led by Phaze Ventures and backed by Jasoor Ventures, Mamun is preparing to expand its role in the trade finance ecosystem connecting the Gulf and Asia.

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