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Triterras & Mamun to offer short-term lending solutions to MSMEs in Oman

By Delisha Fernandes

January 04, 2024

  • APIs
  • Banking
  • Big Data/Analytics
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TriterrasTriterras, a FinTech company focused on digital trade and supply chain finance has announced a strategic alliance with Oman-based Mamun, an embedded FinTech infrastructure as a service and finance provider.

This collaboration harnesses Triterras’ technological expertise and leverages Mamun’s experience in Oman’s financial services sector. The partnership will initially target the Micro, Small and Medium-sized Enterprise (MSME) finance sector in Oman, with a specific emphasis on the food and beverage industry. The collaboration will also enable Triterras to offer the KRATOSTM financing platform to banks in Oman on a white-label basis.

“One of the key challenges for startups and micro businesses is a lack of capital and financing, which hinders growth and accessibility to markets. Our primary aim is to enable MSMEs with access to immediate and workable financial solutions to maintain business continuity and foster growth opportunities,” said Ashish Srivastava, Chief Commercial Officer at Triterras. “This collaboration strengthens our commitment to deliver cutting-edge finance solutions that meet the evolving needs of businesses in Oman, and the wider Middle East region. This 2-way agreement facilitates Triterras’ expansion in the MENA region.”

As part of the alliance, Triterras will introduce eDirect Debit, a direct debit payment technology developed by Mamun, in the UAE. eDirect Debit is designed to offer businesses a seamless and highly efficient payment solution, with the aim of enhancing the ease of handling transactions within the region.

With Oman’s vibrant market in mind, this collaboration potentially makes a substantial impact on businesses looking for finance by simplifying access to financial resources. As with Triterras’ global mission, the partnership will support MSMEs, enhancing financial inclusivity for businesses in Oman.

“We are excited to witness the expansion of our eDirect Debit technology into the UAE through our collaboration with Triterras,” said Mohammed Al Tamami, Co-Founder and Chief Commercial Officer, at Mamun.

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