Sharia-compliant fintech platform mamun has raised a US$3 million seed round led by Phaze Ventures through its Oman Fund, alongside ADGM-based Jasoor Ventures. The company operates across Muscat, Abu Dhabi, and Hong Kong SAR, targeting cross-border trade along the Greater Bay Area–Oman–UAE economic corridor.
The capital will scale the company's AI-native origination and underwriting systems. According to mamun, small exporters frequently encounter 60 to 90-day payment gaps that traditional banks rarely bridge due to strict historical track record requirements. The Asian Development Bank estimates the global trade finance gap at US$2.5 trillion, with 41% of SME trade finance applications being rejected.
Mamun is regulated under the Financial Services Authority of Oman crowdfunding framework (FSA Licence CMI051) for its Omani entity, with additional corporate entities established in Abu Dhabi and Hong Kong SAR. Roughly 40% of the platform's trade finance settlements currently clear through Hong Kong-based financial institutions and businesses, linking Gulf capital to Belt and Road Initiative trade routes.
Company figures indicate that Oman's non-oil exports increased approximately 10% year-on-year and re-exports grew 13.6% in the first seven months of 2026, with the UAE standing as its largest non-oil trading partner. The platform was co-founded by Saleh Al Tamami, Mohammed Al Tamami, and Ahmed Al-Issaei.
Sources
- UAE-China Chamber of Commerce (UECN) · 2026-11-02
- Gemini News Search — Industry News · 2026-11-03



