Mamo: Funding, Investors & Team (Sep 2026)
Mamo is a Dubai-based Fintech startup that specializes in developing payment and financial solutions for small and medium-sized enterprises. Mamo takes pride in owning and operating its core and financial intellectual property. It is the only Fintech startup licensed by the DFSA with a Cat 3C Providing Money Services license, allowing it to offer a wide range of financial services and accelerate its growth. Mamo's flagship product, Mamo Business, is used by numerous SMEs in the UAE across various industries such as professional services, health care, tourism, events, wellness, fitness, retail, and entertainment. Mamo Business serves as an alternative to traditional business banking, providing SMEs with a user-friendly platform that functions as a financial operating system and support system, offering payment solutions, spend management, and analytics.
Mamo has raised $11.4M across 2 funding rounds on record, the most recent a Seed of $3.4M announced in Jul 2024.
That round is below the $14M median round size for Financial Services companies tracked on FundedIQ over the last two years.
Mamo Company Profile and Key Stats
Latest funding round on record: Jul 2024.
Mamo Funding Rounds
Mamo raised $8.0M in an undisclosed round announced in May 2021.
3.2 years later, a Seed of $3.4M was announced in Jul 2024.
Mamo Founders and Leadership Team
Contact details for the Mamo team: 1 of 2 have an email address on file.
Start 14-day free trial →Mamo Funding Compared to Other Financial Services Startups
Mamo's latest round of $3.4M is below the median round in Financial Services. Medians cover the last 24 months of disclosed rounds.
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Mamo Funding FAQs
What does Mamo do?
Mamo is a Dubai-based Fintech startup that specializes in developing payment and financial solutions for small and medium-sized enterprises. Mamo takes pride in owning and operating its core and financial intellectual property. It is the only Fintech startup licensed by the DFSA with a Cat 3C Providing Money Services license, allowing it to offer a wide range of financial services and accelerate its growth. Mamo's flagship product, Mamo Business, is used by numerous SMEs in the UAE across various industries such as professional services, health care, tourism, events, wellness, fitness, retail, and entertainment. Mamo Business serves as an alternative to traditional business banking, providing SMEs with a user-friendly platform that functions as a financial operating system and support system, offering payment solutions, spend management, and analytics.
How much funding has Mamo raised?
Mamo has raised $11.4M across 2 rounds on record. The most recent is a Seed of $3.4M announced in Jul 2024.
When did Mamo last raise funding?
Mamo's most recent funding round on record is a Seed of $3.4M, announced in Jul 2024.
Who founded Mamo?
FundedIQ lists Asim Janjua (Founder) at Mamo.
Who is the CEO of Mamo?
Mohammad El Saadi is listed as CEO at Mamo.
Where is Mamo headquartered?
Mamo is based in Dubai, United Arab Emirates.
How many employees does Mamo have?
Mamo is in the 51-100 employee band.
How does Mamo's funding compare to other Financial Services startups?
Mamo's latest round of $3.4M is below the $14M median round size for Financial Services companies on FundedIQ across 5,745 tracked companies over the last two years.
About FundedIQ's Mamo Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Mamo is left off this page rather than filled in.
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