Mamo, a Dubai, UAE-based fintech startup on a mission to help small and medium-sized businesses consolidate their payment collection, corporate cards and expense management needs, raised $3.4M in funding.
The round was led by 4DX Ventures and the Dubai Future District Fund. Other investors included Cyfr Capital.
The company intends to use the funds to further develop its comprehensive financial services platform and begin testing its innovative product lines in the Kingdom of Saudi Arabia, further extending its regional footprint.
Led by CEO Imad Gharazeddine, Mama is a fintech company committed to empowering SMEs in the MENA region by simplifying their financial operations and enhancing cost-efficacy. Its product offering includes payment collection, corporate cards, and expense management. In 2022, it was the first fintech startup licensed by the DFSA with a Category 3C Providing Money Services license 2.
To date, Mamo has raised a total of $13 million in funding, and the team stands at 30
people.
FinSMEs
25/07/2024