“Can a DFSA-licensed payment facilitator replace three financial service providers (PSP, corporate cards, payouts) for UAE SMBs with a single integrated platform?”
Founded as a UAE consumer P2P payments app (send money like a text message via phone contacts). Pivoted to a B2B/SME-focused full-stack payments and spend management platform under the Mamo Business brand, replacing the consumer-first positioning with an integrated payments + corporate cards + payouts + expense management product for UAE SMBs. Today positions as 'the UAE's only full-stack digital payments and spend management platform'.
Mamo discloses Mamo Limited (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Mamo does not disclose a bank charter of its own; its banking services are provided through Mamo Limited (in-house).
Mamo processes payments through Checkout.com and Mamo Business (self-operated PayFac).
Mamo's cards are issued through Mamo (in-house, DFSA-licensed).
Mamo's lending and capital products are provided by Tabby.
Mamo uses Mamo Global Payouts (in-house, DFSA-licensed international payments processing) for FX and cross-border payouts.
Mamo integrates with QuickBooks Online, Xero, Zoho Books, Microsoft Dynamics, Wafeq, Zapier and Make.
The Embedded Finance Index 2026 maps 7 layers in Mamo's stack: Payments / PSP (Checkout.com and Mamo Business (self-operated PayFac)); Banking / BaaS (Mamo Limited (in-house)); Card issuing (Mamo (in-house, DFSA-licensed)); Lending (Tabby and Tabby BNPL at checkout (4 interest-free installments for end consumers)); FX & payouts (Mamo Global Payouts (in-house, DFSA-licensed international payments processing)); Accounting (QuickBooks Online, Xero, Zoho Books, Microsoft Dynamics and 3 others); Spend / AP (Mamo Expense Management (in-house)).
Mamo was founded by Imad Gharazeddine and Asim Janjua and is headquartered in Dubai International Financial Centre (DIFC), Dubai, UAE.
Mamo has raised $13M+ in total (latest round: $3.4M (2024)).
Get a read on where your own stack stands against Mamo and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.