Transposed Convolutions (TCONV) enable the up-scaling mechanism within generative Artificial Intelligence (AI) models. However, the predominant Input-Oriented Mapping (IOM) method for implementing TCONV has complex output mapping, overlapping sums, and ineffectual computations. These inefficiencies further exacerbate the performance bottleneck of TCONV and generative models on resource-constrained edge devices. To address this problem, in this paper we propose MM2IM, a hardware-software co-designed accelerator that combines Matrix Multiplication (MatMul) with col2IM to process TCONV layers on resource-constrained edge devices efficiently. Using the SECDA-TFLite design toolkit, we implement MM2IM and evaluate its performance across 261 TCONV problem configurations, achieving an average speedup of 1.9x against a dual-thread ARM Neon optimized CPU baseline. We then evaluate the performance of MM2IM on a range of TCONV layers from well-known generative models achieving up to 4.2x speedup, and compare it against similar resource-constrained TCONV accelerators, outperforming them by at least 2x GOPs/DSP. Finally, we evaluate MM2IM on the DCGAN and pix2pix GAN models, achieving up to 3x speedup and 2.4x energy reduction against the CPU baseline.