Cairo – Cairo-based fintech Munify has secured $3 million in seed funding, led by Y Combinator with participation from BYLD, Digital Currency Group, and other strategic investors. The raise comes as Munify graduates from YC’s Summer 2025 batch, making it one of the few MENA fintech startups to feature in a cycle heavily dominated by AI companies.
Founded in 2024 by Khalid Ashmawy—a former Microsoft and Uber executive and co-founder of Huspy—Munify is building a cross-border digital bank designed for Egyptians abroad. The platform enables instant, low-cost remittances to Egypt, access to U.S. bank accounts, debit card issuance, and tools to hedge against currency volatility.
Currently available across the U.S., U.K., Europe, and the GCC, Munify’s services target freelancers, SMEs, and Egyptian expatriates, who often face high remittance fees and settlement delays.
The newly raised funds will be used to scale engineering and compliance teams, expand regulatory and banking partnerships, and enter additional international markets.
“Remittance flows are one of the most critical financial lifelines for Egypt, yet millions still face costly, slow, and fragmented services,” said Khalid Ashmawy, Founder and CEO of Munify. “We’re building the infrastructure to make global banking and payments radically more accessible for Egyptians, wherever they live.”
