Dubai-based venture builder FasterCapital has selected Uganda’s fintech startup MAM Telecom Ltd for its prestigious EquityPilot acceleration program to support the company in raising a $5 million seed round. The funding will be used to launch East Africa’s first 24/7 digital mobile money float liquidity platform, targeting one of the most persistent bottlenecks in the region’s digital payments ecosystem.
Uganda’s mobile money market processes more than Sh50 trillion annually, yet over 300,000 agents reportedly lose revenue daily due to frequent float shortages, particularly at night, on weekends, and in rural locations. Traditional banks and liquidity providers are unable to offer real-time support outside standard business hours, creating a critical gap in the financial infrastructure.
MAM Telecom is developing a fully licensed digital liquidity infrastructure that will provide instant 24/7 mobile money float, emergency float top-ups, real-time dashboards, and API integrations with major telecom operators including MTN and Airtel, as well as partner banks. The platform will serve mobile money agents, merchants, SACCOs, and financial institutions.
Through FasterCapital’s EquityPilot program, MAM Telecom will receive hands-on fundraising support, global investor introductions, pitch refinement, due diligence structuring, and international media exposure. Founder and CEO Milon Ahabwe Mutebile said the partnership will ensure that agents never have to turn customers away due to liquidity shortages, with a nationwide rollout planned for 2026.
FasterCapital CEO Hesham Zreik said MAM Telecom is addressing one of the most overlooked frictions in African digital payments and described the company’s model as highly scalable and deeply needed across the region. The $5 million round will fund regulatory licensing, technology development, initial float reserves, team expansion, and phased deployment starting in Kampala and three rural districts.
