Dubai, UAE | THE INDEPENDENT | MAM Telecom Ltd, a Kampala-based fintech solving mobile money float shortages, has been accepted into FasterCapital’s prestigious EquityPilot acceleration program. The partnership will support MAM Telecom in raising a $5 million seed round to launch East Africa’s first 24/7 digital float liquidity platform.
Uganda’s mobile money ecosystem processes over sh50 trillion annually, yet more than 300,000 agents lose revenue every day because they run out of float, especially at nights, on weekends, and in rural areas. Banks and traditional providers simply cannot deliver instant liquidity outside business hours.
MAM Telecom is building a fully licensed (PSP/PSO) digital liquidity infrastructure that gives agents, merchants, SACCOs and institutions:
Instant 24/7 mobile money float; Emergency float top-ups; Real-time dashboards and API integrations with MTN, Airtel and banks
Through the EquityPilot program, FasterCapital (headquartered in Dubai) will provide dedicated fundraising support, global investor introductions, pitch refinement, due diligence structuring, and worldwide media exposure.
Milon Ahabwe Mutebile, Founder & CEO of MAM Telecom Ltd, commented: “Agents should never turn away customers because they have no float at 8 PM or on a Sunday. With FasterCapital’s backing, we will make liquidity instant, unlimited, and available to every agent in Uganda starting in 2026.”
Hesham Zreik, CEO of FasterCapital, added: “MAM Telecom is solving one of the largest hidden frictions in African digital payments. Their model is highly scalable and deeply needed. We are excited to help them raise capital and grow across the region.”
The $5 million round will fund regulatory licensing, technology development, initial float reserves, team hiring, and nationwide rollout beginning in Kampala and three rural districts.