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Mamo is a technology company.
Mamo delivers a unified financial platform for UAE businesses, centralizing payment collection, corporate card issuance, expense management, and payouts. This integrated solution supports diverse payment acceptance, offers flexible settlement schedules, and automates recurring payments. It features corporate credit cards with cashback and robust expense management, integrating with e-commerce and accounting systems.
Founded in 2019 by former Google employees Mohammad El Saadi, Asim Janjua, and Imad Gharazeddine, Mamo emerged from their recognition of complexities faced by small and medium enterprises using fragmented financial tools. Their insight was to build an accessible platform simplifying payment and operational processes.
The company primarily serves businesses across the UAE, aiming to optimize financial operations. Mamo’s vision is to provide a single, adaptable financial operating system, enabling clients to replace multiple service providers with one cohesive platform. This simplifies financial management, fostering efficiency and accelerating business growth.
Mamo has raised $13.4M across 3 funding rounds.
Mamo has raised $13.4M in total across 3 funding rounds.
Mamo has raised $13.4M in total across 3 funding rounds.
Mamo's investors include 4DX Ventures, Dubai Future District Fund, Global Ventures.
Mamo is a fintech company headquartered in the Dubai International Financial Centre (DIFC), providing a digital payments and spend management platform for businesses.[1] It enables companies to accept online payments across multiple currencies and channels worldwide, while consolidating payment collection, corporate cards, expense management, and API integrations into one intuitive platform.[1][4] Serving sectors like travel, real estate, fitness, events, education, B2B services, and automotive, Mamo targets small to medium businesses seeking simplified financial operations, with over 1,000 companies using it to boost revenue, control spending, and automate processes.[1][2]
Regulated by the Dubai Financial Services Authority (DFSA) with a Providing Money Services license, Mamo emphasizes speed (e.g., same-day settlements), cost savings (e.g., 3% lower foreign transaction fees via Mamo Card), and security, positioning itself as an alternative to traditional banking and payment gateways.[1][4]
Mamo emerged in the UAE as a response to fragmented business finance tools, driven by a mission to simplify payments and empower entrepreneurs by removing technological complexity.[1] While specific founders are not detailed in available sources, the company is passionately product-focused, prioritizing beautiful design and user delight to help businesses reclaim time for growth.[1] Early traction came from addressing pain points in multi-currency payments and spend controls, quickly gaining adoption among 1,000+ UAE-based firms across diverse industries.[2]
A pivotal moment involved partnering with security experts like TechMagic for comprehensive penetration testing of its cloud, mobile, and web infrastructure, enhancing trust in a high-stakes fintech environment and leading to ongoing vulnerability assessments.[2]
Mamo rides the fintech wave in the Middle East, particularly the UAE's booming digital economy fueled by DIFC's regulatory sandbox and post-pandemic e-commerce surge.[1] Timing aligns with rising demand for unified financial tools amid globalization, where businesses need multi-currency payments and quick liquidity without banking delays.[4] Market forces like regulatory support for innovation, growth in sectors such as tourism and real estate, and competition from fragmented legacy systems favor Mamo's streamlined approach.[1]
It influences the ecosystem by enabling SMEs to scale internationally, automate operations, and focus on core growth, while its security focus sets a standard for regional fintech reliability.[2]
Mamo is poised for expansion beyond UAE, leveraging its DFSA license and platform scalability to capture Gulf and emerging markets amid rising digital payments adoption.[1][4] Trends like AI-driven fraud detection, embedded finance, and Web3 integrations could shape its evolution, with ongoing security investments ensuring resilience.[2] Its influence may grow by powering more B2B ecosystems, potentially through partnerships or acquisitions, solidifying its role as a go-to for business finance simplification—much like how it started by reclaiming time for entrepreneurs.[1]
Mamo has raised $13.4M across 3 funding rounds. Most recently, it raised $3.4M Other Equity in July 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 25, 2024 | $3.4M Other Equity | 4DX Ventures, Dubai Future District Fund | |
| May 17, 2021 | $8.0M Pre-Series A | Global Ventures | |
| Apr 1, 2020 | $2.0M Seed | Global Ventures |