# Mamo

> Source: https://docs.barcoder.ai/docs/wallets/mamo
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Mamo — official](https://www.mamopay.com/)

## Overview

**Mamo** is **UAE's MENA SME fintech**, simplifying SME financial operations + enhancing cost-efficiency <sup>[1][1], [2][2], [United Arab Emirates report](https://docs.barcoder.ai/docs/payments/AE)</sup>. **Founded 2019 in Dubai** by **Asim Janjua + Imad Gharazeddine + Mohammad El Saadi** (former Google + Souq.com alumni).

**Product offering**: **payment collection + corporate cards + expense management** under one financial-services platform — **localized for UAE SMEs underserved by traditional banking infrastructure**.

**July 2024 funding milestone** <sup>[3][3]</sup>: **$3.4M raise** from existing investor **4DX Ventures + Dubai Future District Fund + Cyfr Capital** — cumulative **$13M total funding**. Funds support UAE product expansion + **Kingdom of Saudi Arabia testing**.

**Team**: 30+ employees as of 2024.

## History

**2019 — Mamo founded in Dubai** <sup>[3][3]</sup> by Asim Janjua + Imad Gharazeddine + Mohammad El Saadi (ex-Google + Souq.com).

**2020-2023 — UAE SME adoption** <sup>[1][1]</sup>.

**July 2024 — $3.4M raise** <sup>[3][3]</sup> (4DX Ventures + Dubai Future District Fund + Cyfr Capital); cumulative $13M; Saudi Arabia testing initiated.

## Ownership & operator

**Operating entity**: **Mamo Pay** (UAE SME fintech).

**Co-founders**: **Asim Janjua + Imad Gharazeddine + Mohammad El Saadi** (ex-Google + Souq.com Dubai team).

**Major investors**: **4DX Ventures + Dubai Future District Fund + Cyfr Capital + Global Ventures + Sequoia/Peak XV (historical seed)** + others.

**Regulator**: **CBUAE (Central Bank of UAE)**.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | Mamo mobile app (iOS + Android) + API + merchant payment-collection + corporate cards |
| **Identifiers** | Phone + email + card number |
| **Customer type** | UAE SMEs (underserved by traditional UAE banking) |
| **Products** | Payment collection (Mamo Business) + corporate cards + expense management (single platform) |
| **2024+ Saudi Arabia testing** |
| **License** | CBUAE-regulated payment services + spend management |

## Users & growth

**2024 baseline** <sup>[3][3]</sup>:
- **Cumulative funding**: $13 million
- **2024 round**: $3.4M (4DX Ventures + Dubai Future District Fund + Cyfr Capital)
- **Team size**: 30+ employees
- **Distinctive positioning**: UAE SME-segment financial infrastructure (underserved by traditional UAE banks)

## Use cases

UAE SME payment-collection (Mamo Business); corporate cards for SME expense control; SME expense management + analytics; cross-border SA testing (2024+); single-platform SME financial operations replacing fragmented bank-and-tools workflow.

## Implementations & partners

**Operator**: **Mamo Pay** (Asim Janjua + Imad Gharazeddine + Mohammad El Saadi).

**Major investors**: **4DX Ventures + Dubai Future District Fund + Cyfr Capital + Global Ventures + Sequoia/Peak XV (historical seed)** + others.

**Major UAE + MENA SME-fintech competitors**:
- **[Wio Bank](https://docs.barcoder.ai/docs/wallets/wio-bank)** (UAE full banking license; 120K+ business clients; AED 50B+ deposits)
- **[Hala](https://docs.barcoder.ai/docs/wallets/hala)** (Saudi SME comprehensive infrastructure; 140K+ SMEs)
- **Tabby Business + Tamara Business** (BNPL for SMEs)
- **Pleo MENA expansion** (European SME expense)
- **[Stripe](https://docs.barcoder.ai/docs/wallets/stripe) MENA** + **[Adyen](https://docs.barcoder.ai/docs/wallets/adyen) MENA**
- **Sarwa, Souqalmal**, other UAE SME-financial-services adjacent

**Regulator**: **CBUAE**.

## Fun facts

- **2019 Dubai founding** by ex-Google + Souq.com team Asim Janjua + Imad Gharazeddine + Mohammad El Saadi.
- **$13M cumulative funding** (small-but-focused SME-fintech build).
- **July 2024 $3.4M raise** (4DX Ventures + Dubai Future District Fund + Cyfr Capital).
- **30+ employee team** (lean, product-focused).
- **2024 Saudi Arabia testing** — KSA expansion underway.
- **"UAE SME segment underserved by traditional banking infrastructure"** — direct positioning quote.

## Comparison

| Feature | Mamo | [Wio Bank](https://docs.barcoder.ai/docs/wallets/wio-bank) (UAE digital-bank rival) | [Hala](https://docs.barcoder.ai/docs/wallets/hala) (Saudi SME comprehensive analogous) | Pleo (European SME expense rival) | Brex (US/global SME analogous) |
|---|---|---|---|---|---|
| Operator | **Mamo Pay (Asim Janjua + Imad Gharazeddine + Mohammad El Saadi; ex-Google + Souq.com)** | Wio Bank PJSC (ADQ + Alpha Dhabi + e& UAE + FAB) | Hala (TPG + Sanabil $157M Sep 2025) | Pleo | Brex Inc. |
| Type | **UAE SME payment collection + corporate cards + expense management** | UAE full-banking-license digital bank + SME + retail + Invest | Saudi SME comprehensive financial infrastructure | European SME expense + cards | US/global SME expense + cards |
| Country | UAE + SA (testing 2024+) | UAE | Saudi + UAE | Europe | US + global |
| Users | **Lean-team UAE SME-focused build** | 120K+ business clients + AED 50B+ deposits | 140K+ Saudi/UAE SMEs + $8B annual | Major European | Major US + global |
| Funding | **$13M cumulative + $3.4M Jul 2024 (4DX + Dubai Future District Fund + Cyfr Capital)** | AED 2.3B bank capital (4 strategic UAE shareholders) | Sep 2025 $157M (TPG + Sanabil) | €350M+ | $1.5B+ |
| Distinctive | **Ex-Google + Souq.com Dubai team; UAE SME-underserved-by-traditional-banks positioning** | 4 UAE national strategic shareholders; Euromoney Best SME digital bank 2025 | Sep 2025 Series B (TPG + Sanabil) | European SME expense | US/global SME corporate cards |

## Status

**Active, UAE SME fintech** <sup>[1][1], [3][3]</sup>:
- **Mamo Pay (Asim Janjua + Imad Gharazeddine + Mohammad El Saadi)** since 2019.
- **$13M cumulative funding + $3.4M July 2024 raise**.
- **UAE SME payment collection + corporate cards + expense management single-platform**.
- **2024 Saudi Arabia testing**.
- **CBUAE-regulated**.

## Sources

[1]: https://tracxn.com/d/companies/mamo-pay/__LN5XdoRF4HpiXV_en5_w4nXAfz4XpAvlntou_-4A9VU "Mamo Pay — Tracxn"
[2]: https://www.entrepreneur.com/en-ae/finance/we-got-funded-dubai-based-fintech-startup-mamo-raises-a/477836 "Mamo $3.4M UAE SME — Entrepreneur"
[3]: https://fintech.global/2024/07/25/uae-fintech-firm-mamo-secures-3-4m-in-latest-funding-round/ "Mamo $3.4M Jul 2024 — Fintech Global"
[4]: https://www.wamda.com/2024/07/uae-fintech-mamo-lands-3-4-million-investment "Mamo $3.4M Wamda"
[ae-cro]: https://docs.barcoder.ai/docs/payments/AE

- [1] [Mamo Pay — Tracxn][1]
- [2] [Mamo $3.4M UAE SME — Entrepreneur][2]
- [3] [Mamo $3.4M Jul 2024 — Fintech Global][3]
- [4] [Mamo $3.4M Wamda][4]
- <sup>[United Arab Emirates report](https://docs.barcoder.ai/docs/payments/AE)</sup> In-corpus: `reports/countries/AE-uae.md`

## Source

Biography extracted from [mamo.md](https://docs.barcoder.ai/source/wallets/mamo). See `matrix.md` for standards-support matrix if present.