Muscat - Sharikat Mubasher: Mamun, an Omani trade finance platform enabling short-term, asset-backed trade transactions, secured $3 million in a seed funding round led by Phaze Ventures, through its Oman Fund, with participation from Abu Dhabi-based Jasoor Ventures.
The new capital will help Mamun scale its AI-native origination and underwriting, increasing the volume of trade the platform can originate, assess, and finance along the Greater Bay Area – Oman – UAE corridor, the company announced in a statement today.
Mamun's AI-native underwriting assesses the company behind the trade, alongside the shipment itself: the contract, the buyer, the trade documents, and trading history between them, while its origination engine finds and screens that trade as it forms.
The platform was built across the corridor: an FSA-regulated home and origination base in Muscat; Abu Dhabi for Gulf capital and UAE flows; and Hong Kong SAR, the financing gateway of the Belt and Road Initiative, for the Greater Bay Area and the Gulf–Asia trade routes.
Saleh Al Tamami, co-founder and CEO of mamun, said: “The businesses moving goods between the Gulf and Asia are growing faster than the financing behind them. We built mamun in Muscat, under Omani regulation, to serve trade along the corridor between the Gulf and Asia. This round scales that engine, and the corridor it serves."
Mamun's license sits within the FSA's crowdfunding framework, which allows the platform to bring in investors from inside and outside the Sultanate, and to finance companies inside and outside the Sultanate, subject to the platform's eligibility criteria and the laws applicable in each investor's country.
