Fintech company to provide short-term lending solution to MSMEs
Triterras, a leading 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. The collaboration aims to bolster the trade finance and short-term lending landscape in the Sultanate of Oman.
This collaboration harnesses Triterras’ technological expertise and leverages Mamun’s experience in Oman’s financial services sector. The collaboration 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 KRATOS financing platform to banks in Oman on a white-label basis.
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.
Key challenges
“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, Triterras.
“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, Mamun.
