UAE-Based Fintech Mamo Receives Funding from DFDF
Dubai Future District Fund has invested an undisclosed amount in UAE-based business and personal finance platform Mamo.
Dubai-based fintech Mamo raised undisclosed funds from Dubai Future District Fund (DFDD), the fund announced on LinkedIn. [1]
Mamo, which was founded in 2019, is a business and personal finance management tool for SMEs. It allows businesses to accept online payments across different channels and currencies and combines payments, spend management, and API integrations.
Earlier this week, Mamo signed a five-year partnership with Visa, making Mamo a principal partner in the UAE. The membership gives Mamo access to the Visa network and allows it to process Visa credit and debit card payments, issue Visa cards, and disburse cash to its customers. It also allows it to directly partner with and sponsor other fintechs by licensing BINs and registering third-party agents. [2]