Pagos, a payment intelligence infrastructure startup founded by former Braintree and PayPal execs, has raised $10 million in seed funding. Started earlier this year, the remote-first Pagos is building a data “platform” and API-driven micro-services that it says can integrate with any payment stack. The end goal is to drive better performance and “optimization” of […]
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Dubai FinTech company Mamo secured $8 million in new funding to boost its digital payment services and expand its operations in the UAE and Saudi Arabia as the coronavirus pandemic spurs a surge in cashless transactions.
The early stage funding round was led by Global Ventures, the UAE venture capital firm, Mamo said on Monday. Other backers include New York venture capital firm 4DX Ventures, Saudi-based AlRajhi Partners, Boston s Olive Tree Capital and investors from Silicon Valley.
“We believe that accepting and making payments should be much simpler than it is today, for everyone,” said Mamo co-founder Mohammad El Saadi.
Mamo raises $8 million in pre-Series A
(L-R) Mohammad El Saadi, Asim Janjua, Imad Gharazeddine, co-founders of Mamo
UAE-based fintech startup Mamo has raised $8 million in its pre-Series A round led by Global Ventures, with the participation of 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and some fintech-focused Silicon Valley investors.
Co-founded by Asim Janjua, Imad Gharazeddine and Mohammad El Saadi, three former Google employees, Mamo is a digital wallet and payments platform that allows users to send and receive payments through their smartphone, free of charge.
It recently launched Mamo Business, which allows freelancers and small businesses to receive online payments from their customers, without the need for gateway and merchant integrations.