The seed round scales mamun's capital infrastructure for trade finance along the Greater Bay Area – Oman – UAE corridor — anchored in Muscat, Abu Dhabi and Hong Kong SAR.
MUSCAT, ABU DHABI/HONG KONG SAR – Media OutReach Newswire – 4 November 2026 – mamun, the Sharia-compliant platform building capital infrastructure for trade finance, has raised a US$3 million seed round led by Phaze Ventures through its Oman Fund, with participation from Jasoor Ventures.
mamun co-founders, left to right: Ahmed Al-Issaei (Co-Founder & CTO), Saleh Al Tamami (Co-Founder & CEO), Mohammed Al Tamami (Co-Founder & CCO)
An exporter in Muscat ships today and gets paid in 60 to 90 days. Banks rarely bridge that gap, as they usually rely on a long financial track record that many small exporters find hard to provide. The Asian Development Bank puts the global trade finance gap at US$2.5 trillion, and 41% of SME trade finance applications are turned down.
mamun's AI-native underwriting assesses the company behind the trade, alongside the shipment itself: the contract, the buyer, the trade documents and the trading history between them. Its origination engine finds and screens that trade as it forms. Then investors on the platform finance the gap.
The hard part is the border. A cross-border transaction spans two regulators, two banking systems and two legal regimes, with settlement that has to land in another jurisdiction on time, and the collateral is in motion, travelling with the goods along the route.
That complexity is why most of the region's financing platforms have stayed domestic, and it is mamun's moat. The platform was built across the corridor: an FSA-regulated home and origination base in Muscat; Abu Dhabi for Gulf capital and UAE flows; and Hong Kong SAR, the financing gateway of the Belt and Road Initiative, for the Greater Bay Area and the Gulf–Asia trade routes.
Roughly 40% of the platform's trade finance settlements already clear through Hong Kong-based financial institutions and businesses.
mamun's licence sits within the FSA's crowdfunding framework, which allows the platform to bring in investors from inside and outside the Sultanate, and to finance companies inside and outside the Sultanate, subject to the platform's eligibility criteria and the laws applicable in each investor's country.
The corridor is growing. Oman's non-oil exports ran about 10% higher year-on-year through the first seven months of 2026 and re-exports 13.6% higher, with the UAE its largest non-oil trading partner. New corridors bring new counterparties: businesses trading together for the first time, with no shared history for a lender to underwrite against.
The round brings together capital from Oman and the UAE: Phaze Ventures invests through its Oman Fund, dedicated to homegrown, AI-enabled Omani businesses, and Jasoor Ventures is an early-stage venture capital firm backing technology founders across the Middle East, North Africa, and Turkey.
The US$3 million will scale that AI-native origination and underwriting, growing the volume of trade the platform can originate, assess and finance along the Greater Bay Area – Oman – UAE corridor. It is where the industry is heading: 84% of banks in the Asian Development Bank's January 2026 survey already apply AI to trade finance risk. mamun was built that way from origination onward.
"Our thesis is backing the homegrown companies that turn Oman's diversification agenda into regional infrastructure. mamun is exactly that — structured across the corridor, and built by a team that has executed quietly and precisely. It is a natural commitment from the Oman Fund."
— Abdullah Al Shaksy · Co-Founder & CEO, Phaze Ventures
mamun was founded by Saleh Al Tamami, Co-Founder & CEO, Mohammed Al Tamami, Co-Founder & Chief Commercial Officer, and Ahmed Al-Issaei, Co-Founder & CTO, and was named a Rising Star on the Deloitte Technology Fast 50 Middle East 2025, ranking 26th.
This announcement is for information only and does not constitute an offer or invitation to invest. mamun is not licensed by the Securities and Futures Commission of Hong Kong (SFC).
Hashtag: #mamun
The issuer is solely responsible for the content of this announcement.
ABOUT mamun
mamun builds capital infrastructure for trade finance. The platform is Sharia-compliant, licensed and regulated by the Financial Services Authority of Oman (FSA Licence CMI051). This licence covers the Omani entity only. The group also has entities in Abu Dhabi and Hong Kong SAR. It connects businesses and investors to finance cross-border trade — exports, imports and the working capital that moves goods between markets.
ABOUT PHAZE VENTURES
Founded in 2018, Phaze Ventures is Oman's oldest private venture capital firm. Headquartered in Oman, with a presence in Saudi Arabia and the UAE, it backs early-stage AI and deeptech companies globally and homegrown technology businesses through the Oman Fund.
ABOUT JASOOR VENTURES
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HANOI, VIETNAM - Media OutReach Newswire - 4 November 2026 - Vingroup -Vietnam's largest private conglomerate, and Legends Global, the premier partner to the world's greatest live events, venues and brands, have announced a strategic partnership for the management and operation of VinFast – Trong Dong Stadium. The agreement marks a significant milestone ahead of the landmark venue's scheduled opening on July 31, 2027.
Scheduled for opening on July 31, 2027, VinFast – Trong Dong Stadium is set to become the world's largest stadium by seating capacity. Photo: Vingroup
Under the agreement, Vingroup and Legends Global will work together to establish VinFast – Trong Dong Stadium as a premier global destination for world-class sporting, cultural, and entertainment events. In addition to helping attract major international events to the stadium, Legends Global will collaborate with Vingroup to oversee venue and facility management, vendor coordination, and on-site service operations, ensuring that every aspect meets the highest international standards of professionalism and excellence.
Drawing on its extensive experience managing more than 450 venues worldwide, hosting over 20,000 major events, and welcoming more than 165 million guests annually, Legends Global will also play a key role in developing the expertise and capabilities of Vingroup's venue management professionals in Vietnam.
Commenting on the strategic partnership, Mr. Nguyen Viet Quang, Vice Chairman and CEO of Vingroup, said: "VinFast - Trong Dong Stadium is far more than a sporting venue. With its world-leading scale, contemporary architecture inspired by Vietnamese cultural heritage, automated retractable roof, and playing surface designed to meet FIFA standards, we envision working alongside Legends Global to transform the stadium into a global gathering place for the finest sporting, cultural, and entertainment events."
Mr. Dan Levy, CEO of Legends Global, commented: "VinFast – Trong Dong Stadium is an extraordinary project for Vietnam, one that will help position Hanoi at the forefront of the global live events industry. Legends Global is honored to partner with Vingroup on this landmark development. We look forward to sharing our expertise in venue and event management to help bring Vingroup's ambition and vision for the world's largest stadium to life."
Mr. Peter Loxton, Chief Operating Officer for Asia Pacific and the Middle East at Legends Global, affirmed: "We are confident that, from the very first major event, the experience for fans, athletes, performers, event organizers, and partners will match the extraordinary scale of the stadium itself. Our long-term exclusive partnership with Vingroup allows Legends Global to combine global expertise with local talent to strengthen Vietnam's venue management capabilities."
VinFast – Trong Dong Stadium features a distinctive, one-of-a-kind design befitting the world's most iconic destination landmarks. Inspired by the Dong Son bronze drum and the legendary Lac bird, enduring symbols of Vietnam's thousand-year cultural heritage, its architecture blends traditional imagery with a bold, contemporary aesthetic that conveys strength and national pride. The stadium is also set to establish new benchmarks in scale and technological sophistication, with a planned capacity of 135,000 seats, the largest in the world, alongside integrated real-time security management and crowd-flow monitoring systems designed to support safe, efficient, and sustainable operations.
Surrounding the stadium is an extensive ecosystem of training grounds and large-scale sports facilities within the Hung Vuong International Sports Complex. The development will also feature a comprehensive range of amenities, including hotels, shopping centers, hospitals, parks, cultural and culinary villages, and theaters, offering a comfortable and convenient experience for athletes and fans from Vietnam and around the world.
Through the strategic partnership between Vingroup and Legends Global, VinFast –Trong Dong Stadium and the wider Hung Vuong International Sports Complex are expected to emerge as a new international destination on the global map of premier sporting and entertainment events. The development is anticipated to attract international visitors, stimulate the sports economy, and elevate Hanoi's profile on the world stage.
The partnership also lays the foundation for a long-term collaboration between the two organizations, with Legends Global providing exclusive stadium, arena, and live event services to Vingroup in Vietnam. Mr. Paul Sergeant OBE, a seasoned venue industry veteran and stadium expert at Legends Global, has already arrived in Hanoi to personally oversee technical preparations and pre-opening activities. Meanwhile, recruitment for the stadium's operations team is actively underway, establishing the groundwork for the venue to commence operations in accordance with international standards./.
Hashtag: #Vingroup #VinFast #TrongDongStadium
https://vingroup.net
The issuer is solely responsible for the content of this announcement.
ABOUT VINGROUP
Vingroup is Vietnam's largest private conglomerate and was ranked 57th on TIME magazine's list of the Best Companies in Asia-Pacific 2026. Throughout more than three decades of development, Vingroup has consistently pushed new boundaries, created new engines of growth, and progressively expanded the reach of Vietnam's business ecosystem onto the global stage. Today, companies within the Vingroup ecosystem operate in 12 countries, providing employment for more than 400,000 people across six core pillars: Industrials & Technology, Real Estate & Services, Infrastructure, Green Energy, Social Enterprises, and Culture & Sports.
For more information, please visit: https://vingroup.net.
ABOUT LEGENDS GLOBAL
Legends Global is a premier international partner to the world's most prestigious live events, venues, and brands. The company provides comprehensive, integrated solutions spanning feasibility studies, consulting, project development, sales, partnership development, venue management, premium hospitality, merchandise and content commercialization, and event production. Leveraging the strength of its global network of more than 450 venues, 20,000 events, and 165 million guests annually, Legends Global works with its partners to enhance commercial performance and deliver exceptional guest experiences.
Legends Global attracts events to, partners with, operates, and manages a global network of venues, including:
FIFA World Cup Host Stadiums: Reliant Stadium, Houston; AT&T Stadium, Dallas; SoFi Stadium, Los Angeles; Levi's Stadium, Santa Clara; Rose Bowl, Los Angeles; Santiago Bernabéu, Madrid; Spotify Camp Nou, Barcelona.
Iconic National Stadiums: Emirates Stadium, London; Stamford Bridge, London; Suncorp Stadium, Brisbane; Kai Tak Stadium, Hong Kong; Optus Stadium, Perth; Yankee Stadium, New York; Caesars Superdome, New Orleans.
For more information, please visit: www.LegendsGlobal.com
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