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UAE-based Fintech Firm Mamo Obtains Regulatory Approval In DIFC

UAE-based Fintech Firm Mamo Obtains Regulatory Approval In DIFC
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United arab emiratesImad gharazeddineDubai financial services authorityDubai international financial centreInnovation testing licenseUnauthorised firmMamo payKnow your customer

UAE FinTech Mamo receives regulatory approval in DIFC

Mamo, a UAE-based FinTech and financial services platform for SMEs, has been granted regulatory approval to operate from Dubai International Financial Centre, the leading global financial centre in the Middle East, Africa and South Asia region.

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UAE fintech Mamo receives regulatory approval in DIFC

The licence allows Mamo to further expand its products and services without user restrictions and provide unmatched security while fully complying with DFSA rules

United arab emiratesImad gharazeddineArif amiriDubai financial services authorityDubai international financial centreMiddle eastSouth asiaInnovation testing licenceUnauthorised firmMamo payKnow your customer

Dubai s Mamo secures $8m to grow digital payments offer

SHARE 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.

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Mamo raises $8 million in pre-Series A

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.

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