Oman's Mamun Raises $3 Million Seed Round to Expand AI-Based Gulf–Asia Trade Finance

Mamun runs a Shariah-compliant trade finance platform. Businesses that need money for imports, exports or working capital are matched with investors who fund the gap between shipping goods and being paid, which the company says is usually 60 to 90 days for an exporter in Muscat. Mamun says its AI underwriting assesses the business, the buyer, the contract, the shipping documents and the trading history between the two parties, instead of relying mainly on the long financial track record banks usually ask for.

The company is regulated by Oman's Financial Services Authority under its crowdfunding framework. Mamun says that licence lets it bring in investors from inside and outside the Sultanate and finance companies in both. Mamun also has entities in Abu Dhabi and Hong Kong, and it says about 40 per cent of its trade finance settlements already go through Hong Kong-based institutions and businesses.

The new funding will expand the platform's AI-driven deal sourcing and underwriting, so it can finance more cross-border trade along the Greater Bay Area–Oman–UAE corridor.

"The businesses moving goods between the Gulf and Asia are growing faster than the financing behind them," said Saleh Al Tamami, co-founder and chief executive. Abdullah Al Shaksy, co-founder and chief executive of Phaze Ventures, said the deal fits his firm's aim of backing homegrown companies "that turn Oman's diversification agenda into regional infrastructure."

The company cites an Asian Development Bank estimate that the global trade finance gap stands at $2.5 trillion and that 41 per cent of small business trade finance applications are rejected. It also cites trade data showing that Oman's non-oil exports rose about 10 per cent year on year in the first seven months of 2026 and re-exports rose 13.6 per cent, with the UAE as Oman's largest non-oil trading partner.

Mamun was founded in 2019 by Saleh Al Tamami, Mohammed Al Tamami and Ahmed Al-Issaei. It was named a Rising Star on the Deloitte Technology Fast 50 Middle East 2025 list, ranking 26th.