Triterras enters into collaboration with Oman-based Mamun

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
Dhofar Islamic launches SME business banking account
Rep. Image | Courtesy: Sharon Ang @ Pixabay

Triterras, a leading fintech company focused on digital trade and supply chain finance, has announced a strategic alliance with Oman-based Mamun to bolster the trade finance and short-term lending landscape in the Sultanate.

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 KRATOSTM financing platform to banks in Oman on a white-label basis.

Mr. Ashish Srivastava, Chief Commercial Officer at Triterras, said that, “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.”

“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,” added. Mr. Srivastava.

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, to enhance the ease of handling transactions within the region.

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

Trending | Why not update to Windows 11; Check out 12 reasons!