Oman's mamun raises $3M seed for Gulf–Asia trade finance

Filling the payment gap

Founded in 2019 by Saleh Al Tamami, Mohammed Al Tamami and Ahmed Al-Issaei, mamun connects businesses with investors who finance imports, exports and working capital. An exporter in Muscat typically ships goods and waits 60 to 90 days for payment, and banks often decline to bridge that gap because they want a long financial track record. The Asian Development Bank puts the global trade finance gap at $2.5 trillion, and 41% of SME trade finance applications are rejected.

Instead of relying on company history alone, mamun's underwriting evaluates the business, the buyer, the contract, the shipping documents and the trading history between the parties. Investors on the platform then fund the gap.

A cross-border structure

mamun is headquartered in Muscat and has entities in Abu Dhabi and Hong Kong. It is licensed and regulated by Oman's Financial Services Authority under its crowdfunding framework, which allows it to bring in investors and finance companies from inside and outside the Sultanate, subject to eligibility criteria and local laws. Around 40% of its trade finance settlements already clear through Hong Kong-based institutions and businesses.

The corridor is expanding: Oman's non-oil exports rose about 10% year on year in the first seven months of 2026, and re-exports grew 13.6%, with the UAE its largest non-oil trading partner. New trading relationships often lack shared history for lenders to assess.

"The businesses moving goods between the Gulf and Asia are growing faster than the financing behind them," said Saleh Al Tamami, co-founder and CEO. Phaze Ventures CEO Abdullah Al Shaksy called mamun a natural commitment for the Oman Fund, which backs homegrown, AI-enabled Omani companies. mamun ranked 26th on the Deloitte Technology Fast 50 Middle East 2025.