Mamo Hits AED 1.2 Billion in Transactions, Launching SME-Focused Credit Card

Editorial Team

Last updated 3-06-2025

3 min

Mamo, a UAE fintech startup, surpassed AED 1.

2 billion in total transactions.

The company offers simplified financial solutions specifically for SMEs, building trust in the community.

Mamo plans to launch a credit card for SMEs to provide flexible credit and spend insights.

Their digital-first, agile approach meets the modern needs of businesses, contrasting traditional payment systems.

Licensed by DFSA in 2022, Mamo illustrates the region's rapidly evolving entrepreneurial landscape.

Mamo, the UAE's homegrown fintech startup, has just reached a pretty impressive milestone, clocking up over AED 1.2 billion worth of total payment transactions. It's the sort of achievement that would make any fintech entrepreneur sit up and pay attention, highlighting just how fast the company has grown since it kicked off in the Emirates.

The startup was formed with a straightforward goal—to provide businesses, especially SMEs, with quicker, simpler, and clearer financial solutions. Now, after building trust among thousands of companies, Mamo finds itself at the heart of the UAE’s thriving small business community.

Commenting on reaching this significant milestone, Imad Gharazeddine, Mamo’s CEO and co-founder, put it succinctly: "Reaching AED 1.2 billion in total processed volume isn’t just a number—it's a reflection of the trust our customers place in us and their pressing need for better financial tools." He went on to add that their ambition is to become a streamlined, one-stop shop that provides everything from payments and expense management to easy-access credit, simplifying the financial burdens SMEs often wrestle with.

Building on the success of their existing payment and business wallet products, Mamo now has plans to roll out something that sounds pretty exciting—a Mamo-branded credit card specifically tailored for growing businesses. This card aims to offer SMEs flexible access to short-term credit, immediate spend insights, and seamless integration within Mamo’s existing financial dashboard. No doubt something entrepreneurs across the UAE will keenly anticipate.

It's no exaggeration to say that Mamo’s rapid ascent reflects a broader shift in the market towards agile, tech-driven financial services. With traditional payment infrastructures often seen as cumbersome and a wee bit outdated for modern business needs, Mamo’s digital-first approach seems to have hit the nail squarely on the head. Talking to startup founders here locally, whether in the cafés around DIFC or tucked away in the hubub of Dubai Internet City, you'd quickly realise the excitement that fintechs like Mamo generate with their fresh and uncomplicated ways of handling money streams.

As these entrepreneurs know only too well, managing finances effectively can mean the difference between success and struggle. As it powers ahead, Mamo is firmly sticking to the principles it began with—trust, simplicity, and empowering businesses financially. With their sights now set firmly beyond the billion-dirham mark, they promise to ramp up innovations aimed directly at reducing costs and saving companies valuable time.

For those new to the startup scene or simply curious about fintech in the UAE, Mamo became the first fintech startup licensed by the DFSA in 2022, with a Category 3C Money Services licence. For the finer details about their offer and services, you can always pop along to their website at www.mamopay.com. It's businesses like Mamo, I reckon, that truly illustrate how fast the region’s entrepreneurial landscape is evolving.

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