Oman
Omani trade finance platform mamun raises $3 million seed round for Gulf-Asia trade
Mamun, based in Muscat, says the seed round will fund more trade finance between the Gulf and Asia. The company figures in the report come from its CEO, Saleh Al Tamami.
- What
- $3 million seed round to expand trade finance between the Gulf and Asia
- Who
- Mamun, led by co-founder and CEO Saleh Al Tamami
- Lead investor
- Phaze Ventures, through its Oman Fund
- Where
- Operates from Muscat, Abu Dhabi and Hong Kong
- When
- Oman Observer reported the round on 4 November 2026
- Key number
- The CEO says nearly $20 million in financing since Q4 2023
The round
Oman Observer reported on 4 November 2026 that mamun raised $3 million in seed funding to expand trade finance between the Gulf and Asia.1,2,3,4,5,6
Phaze Ventures led the round through its Oman Fund. Future Fund Oman, a vehicle of the Oman Investment Authority, backed it, and Abu Dhabi-based Jasoor Ventures also took part. Individual contributions were not disclosed.1,2,6
The company says the money will go to finding trade finance transactions, improving its AI-based risk assessment, and strengthening monitoring and collection after financing. It has not disclosed targets for additional trade financing after the investment.1,2,6
How the platform works
According to mamun's own press release, it is a Sharia-compliant platform that links businesses needing working capital with investors who fund their trade. It operates under the crowdfunding framework regulated by Oman's Financial Services Authority. Investors provide capital for approved transactions.1,2,6,7
According to mamun, it assesses individual transactions, such as purchase orders, buyers, shipping documents and past dealings, rather than mainly a company's financial history. CEO Saleh Al Tamami says decisions can take days once documents are complete.1,2,6
The company describes AI-based underwriting that also looks at the company, shipment and contract. It says an origination engine screens each trade as it forms, and investors then finance it.8,9
Track record and China link
Al Tamami says mamun has facilitated nearly $20 million in financing since starting in Q4 2023, across more than 175 facilities for 84 businesses, including 78 Omani companies. He also says around 40 per cent of its trade finance activity by value is linked to Hong Kong, the Greater Bay Area and mainland China.1,2,6
The company set up Mamun Hong Kong Limited in February. Al Tamami confirmed mamun has not secured any contracts directly resulting from the agreements announced during the Omani sultan's state visit to China, including the Central Bank of Oman and People's Bank of China currency swap agreement.1,2,6
Other figures the company gives
According to CEO Al Tamami, mamun supplies the technology behind Oman Housing Bank's Iskan platform. He says Iskan has processed more than RO 400 million in housing financing, which Oman Housing Bank provided.1,2,6
The company reports that investors from more than 55 nationalities across over 25 countries have taken part in financing through its platform.1,2,6
What could not be verified
- The company figures on financing facilitated, facilities and businesses served: they come from the CEO and are not independently verified.
- The 40 per cent China-linked share of trade finance by value: the CEO's own figure.
- The RO 400 million Iskan total and mamun's role in supplying the Iskan technology: the CEO's claims, not independently checked.
- Whether the $3 million has been received or deployed, and individual investor amounts or the company valuation: none are disclosed.
- How the Oman-China currency swap will affect mamun or its customers: not established.
Sources
- Oman Observer, 4 Nov 2026
- Zawya, 4 Nov 2026
- Dealroom, 4 Nov 2026
- Muscat Daily, 4 Nov 2026
- Tech in Asia, 4 Nov 2026
- TradingView, 4 Nov 2026
- Treasury Today (mamun press release), 4 Nov 2026
- mamun (press release via Media OutReach Newswire),
- Vir.com.vn (Media OutReach Newswire release), 4 Nov 2026