Mamo, a fintech startup from UAE, raised $3.4 million in its funding round to smoothen financial operations for SMEs. The funding round, led by current investor 4DX Ventures and Dubai Future District Fund, shall be used to strengthen the product line and increase market visibility of the company across UAE. The respective region is also eyeing further expansion in this sector.
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Funding Details
The funding round of $3.4 million was led by 4DX Ventures, the Dubai Future District Fund, and Cyfr Capital. The funds will be used to drive Mamo’s strategic plans, aimed at product expansion and geographical scale across the region, especially in Saudi Arabia.
Expansion Plans
Mamo plans to use the newly raised funds to diversify its product lines across the UAE. The company will further develop a full suite of financial services to meet more complex financial management requirements of SMEs. Moreover, Mamo is getting ready to pilot new product lines in the Saudi Arabian market to expand its geographic presence further across MENA.
Vision and Mission
According to Imad Gharazeddine, Co-founder and CEO, Mamo, the company is focused on making payments easy for SMEs and equipping them with proper tools they need to succeed in today’s fast-moving markets. He underlined the significant contribution SMEs make toward the UAE economy by underscoring the mission of Mamo to empower them through accessible financial solutions.
Investor Confidence
According to Daniel Marlo, general partner at 4DX Ventures, the reason for his interest in participating was the belief in Mamo’s leadership and an innovative approach. He further acclaimed the user-friendly financial solutions that Mamo was targeting toward SMEs, which places the company at the forefront of the fintech space.
According to Amer Fatayer, the Managing Director of DFDF, what Mamo did was fill gaps in the banking infrastructure of UAE SMEs. He further admired how product-first Mamo, integrated seamlessly into the core operations of SMEs, was seeking to improve payment and spend management efficiency.
Milestones and Achievements
From its very establishment, Mamo has raised a total of $13 million in funding and grown to a team of 30. The current product lineup includes payment collection, corporate cards, and expense management—all this within one intuitive platform. This consolidation saved SMEs from transaction fees and streamlined financial operations.
Still pioneering the path of Fintech across MENA, Mamo remains driven by the vision to empower SMEs through strong financial tools. With this latest funding round, Mamo is better positioned to ramp up its growth trajectory, expand product capabilities, and deepen its impact on SMEs’ financial landscapes across UAE and Saudi Arabia.
About Mamo
Mamo is the United Arab Emirates-based leader in fintech, working towards making the financial operations of SMEs easy across the MENA region. As a DFSA-licensed organization, Mamo gives its customers the power of an all-in-one suite of financial services, including payment collection, corporate cards, expense management, and much more so that SMEs could attain cost efficiency and operational effectiveness.
