Cairo-based fintech Munify, which provides cross-border digital banking solutions for Egyptians abroad, has raised $3 million in seed funding. The round was led by Y Combinator, with participation from BYLD, Digital Currency Group, and other strategic investors, according to Wamda.
Founded in 2024, Munify offers instant, low-cost remittances to Egypt, US bank account access, debit card issuance, and tools to manage currency volatility. Its services target freelancers, SMEs, and expatriates who face high costs and delays with traditional remittance systems.
The startup currently operates in the US, UK, Europe, and GCC, serving Egyptians living overseas. With the new funding, Munify plans to scale its engineering and compliance teams, strengthen regulatory and banking partnerships, and expand into new markets.
CEO Khalid Ashmawy said the company’s mission is to address inefficiencies in remittance flows, a vital financial lifeline for Egypt: “We’re building infrastructure to make global banking and payments radically more accessible for Egyptians, wherever they live.”
