Mamun Raises $3M Seed for Trade Finance
The Sharia-compliant platform, led by Phaze Ventures' Oman Fund, aims to close a gap in global trade finance.
Updated on Nov. 4, 2026 in Startups
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Sharia-compliant platform mamun raised a US$3 million seed round led by Phaze Ventures through its Oman Fund, with Jasoor Ventures participating. The company builds AI-native capital infrastructure for trade finance and is licensed by Oman's Financial Services Authority.
Why it matters
The Asian Development Bank puts the global trade finance gap at US$2.5 trillion, and 41% of SME trade finance applications are turned down. Banks often rely on long financial track records that many small exporters lack, leaving the payment gap unbridged.
The seed round is US$3 million, and the global trade finance gap is US$2.5 trillion according to the Asian Development Bank. Roughly 40% of the platform's settlements clear through Hong Kong-based institutions, though the extraction does not say how that share will change as the platform scales.
The players
Phaze Ventures
Phaze Ventures is an investment firm that led the seed round through its Oman Fund.
Asian Development Bank
The Asian Development Bank is a multilateral development lender that estimated the global trade finance gap and surveyed AI use in trade finance.
The details
mamun uses AI-native underwriting to assess the company, contract, buyer, trade documents and trading history together, while its origination engine screens trades as they form so investors can finance the gap. The US$3 million will fund scaling along the Greater Bay Area, Oman and UAE corridor.
Timeline
January 2026: Asian Development Bank survey on AI in trade finance published
First seven months of 2026: Oman non-oil exports rose about 10% and re-exports rose 13.6% year-on-year
November 4, 2026: mamun seed round announced
Market Landscape
The ADB's January 2026 survey found 84% of banks already apply AI to trade finance risk, and mamun's round extends that shift to non-bank capital. The move positions the company against incumbent lenders in a market where the trade finance gap remains large.
Small exporters that struggle to get bank financing may find more options as non-bank platforms enter trade finance. The extraction does not indicate when or how those services will reach individual businesses.
The takeaway
Small exporters facing bank rejection can explore alternative trade finance providers, but should verify licensing and terms before committing. Checking a provider's regulatory status, such as its Financial Services Authority license, is a practical first step.
Further reading
Explore more Startups coverage for context on early-stage financing.
Source note: This article includes information reported by Macau Business.
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