Mamo Secures $3.4 Million Funding to Boost Fintech Offerings

UAE-based fintech startup Mamo has successfully secured $3.4 million in funding to propel its growth and expansion plans. The fresh capital will be instrumental in enhancing the company’s product offerings and broadening its market reach.

Expanding Fintech Solutions

Mamo specializes in providing financial solutions tailored to the needs of small and medium-sized enterprises (SMEs). The company’s platform addresses key challenges faced by SMEs, including payment collection, corporate cards, and expense management. With the new funding, Mamo aims to further develop its comprehensive financial services platform to meet the evolving needs of its target market.

Market Expansion

In addition to strengthening its position in the UAE, Mamo plans to expand its operations into Saudi Arabia. The company will leverage the funding to test its innovative product lines in the Saudi market, marking a significant step towards regional expansion.

Investor Confidence

The funding round was led by existing investor 4DX Ventures and the Dubai Future District Fund, with participation from Cyfr Capital. This support underscores investor confidence in Mamo’s business model and its potential to disrupt the fintech landscape.

Mamo’s co-founder and CEO, Imad Gharazeddine, expressed his enthusiasm for the company’s growth trajectory. He emphasized the importance of the funding in accelerating Mamo’s mission to empower SMEs with the tools they need to succeed. To date, Mamo has raised a total of $13 million in funding.

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