mamun Raises $3 Million Seed to Finance Cross-Border Trade Between the Gulf and Asia

Omani trade finance platform mamun has raised $3 million in a seed round led by Phaze Ventures through its Oman Fund, with Jasoor Ventures participating. The Sharia-compliant platform builds capital infrastructure for trade finance along the Greater Bay Area, Oman and UAE corridor.

An exporter in Muscat ships today and waits 60 to 90 days to get paid. Banks rarely bridge that gap, because they usually rely on a long financial track record that many small exporters cannot provide.

What the platform does

mamun’s AI-native underwriting assesses the company behind the trade as well as the shipment itself. It weighs the contract, the buyer, the trade documents and the trading history between them, then investors on the platform finance the gap.

The Asian Development Bank puts the global trade finance gap at $2.5 trillion, and 41 percent of SME trade finance applications are turned down. Roughly 40 percent of mamun’s trade finance settlements already clear through Hong Kong-based financial institutions and businesses.

Built across three cities

The platform was built across the corridor, with an FSA-regulated home and origination base in Muscat. Abu Dhabi handles Gulf capital and UAE flows, while Hong Kong serves as the financing gateway for the Greater Bay Area and Gulf-Asia trade routes.

mamun’s licence sits within the Financial Services Authority of Oman’s crowdfunding framework. The licence covers the Omani entity only, and the group also has entities in Abu Dhabi and Hong Kong.

The corridor itself is growing. Oman’s non-oil exports ran about 10 percent higher year on year through the first seven months of 2026, and re-exports were 13.6 percent higher, with the UAE its largest non-oil trading partner.

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.

Saleh Al Tamami, co-founder and chief executive of mamun.

Our thesis is backing the homegrown companies that turn Oman’s diversification agenda into regional infrastructure.

Abdullah Al Shaksy, co-founder and chief executive of Phaze Ventures.

Why this round matters

The round brings together capital from Oman and the UAE. Phaze Ventures invests through its Oman Fund, which backs homegrown, AI-enabled Omani businesses, while Jasoor Ventures backs technology founders across the Middle East, North Africa and Turkey.

mamun was named a Rising Star on the Deloitte Technology Fast 50 Middle East 2025, ranking 26th. The $3 million will scale its AI-native origination and underwriting, growing the volume of trade it can originate, assess and finance along the corridor.