Mamo, a UAE-based fintech startup, announced that it secured $3.4 million in funding from 4DX Ventures, the Dubai Future District Fund, and Cyfr Capital.

Why it Matters? The funding will help the startup to extend its footprint to Saudi Arabia, in the meantime, it will launch new products in UAE.

More to Know:

• Mamo was founded in 2019 by Asim Janjua, Imad Gharazeddine, and Mohammad El Saadi.
• The startup offers payment collection, corporate cards, and expense management solutions to SMEs.
• Mamo will use the funds to begin testing its product lines in Saudi Arabia as the first step for regional expansion.
• Mamo has raised a total of $13 million in funding, and the team stands at 30
  members.