Mamon" the Omani platform raises $3 million: trade finance tests risk assessment with artificial intelligence
The payment waiting period after shipping goods could become a bigger obstacle than the deal itself. Small cross-border sellers may wait 60 to 90 days to receive their receivables, while the cost of purchasing materials or shipping a new order remains immediate. From this gap arises “Mamon”, the Omani trade-finance platform that announced it has raised $3 million in a seed round to fund its expansion between the Gulf and Asia.
Phaze Ventures, operating as “Fayez Ventures”, led the round through the Oman Fund backed by Future Fund Oman, with participation from Jasoor Ventures. The source material notes that the company, based in Muscat, has facilitated financing close to $20 million since it began operations in late 2023. The platform does not treat financing as a generic corporate loan; it evaluates the trade transaction itself, a point that determines how liquidity can move when there is a purchase order, shipment and later collection.
The trade document becomes the decision inputMamon was founded in 2023 by Saleh Al-Tamimi, Mohammed Al-Tamimi and Ahmed Al-Eisaei, and operates as a Sharia-compliant trade-finance platform. When assessing a financing request, it reviews purchase orders, buyers, shipping documents and the parties’ transaction history. According to CEO and co-founder Saleh Al-Tamimi, a financing decision can be made within days after the required documents are completed. The company works within the crowdfunding framework regulated by Oman’s Financial Services Authority, where investors provide capital for approved deals while the platform structures the financing in Sharia-compliant formats.
The new round is directed toward three announced priorities: identifying potential trade-finance opportunities, improving AI-based risk assessment, and strengthening post-financing monitoring and collection. The source does not provide technical details about the risk-assessment system, so the available description is limited to the improvement goal itself. However, embedding this goal in a company that reads purchase orders and shipping documents shows where the platform sees AI’s role, within the deal-valuation stage rather than as a separate marketing front.
Hong Kong is not a side detailAround 40 percent of Mamon’s trade-finance activity is linked to Hong Kong and the Greater Gulf region in China and mainland China. This activity includes Omani firms buying components and materials from Chinese suppliers, importing finished goods for local distribution, or re-exporting products to other Gulf markets. For this reason, the company established Mamon Hong Kong Limited in February, aiming to strengthen its position on this corridor.
In Oman, the move comes as interest grows in the commercial and financial relationship with China. The material mentions a currency-swap agreement between the Central Bank of Oman and the People’s Bank of China that could, over time, help address settlement risks and foreign-exchange costs associated with bilateral trade. The clearer test after financing is not the size of the round but whether the increased financial links translate into actual financing deals the platform can evaluate and monitor. For Gulf companies facing long collection periods, this is a practical case worth watching, as it gauges a regional platform’s ability to turn cross-border trade documents into faster financing decisions, while the actual expansion results remain unannounced.