Cairo-based fintech Munify has raised $3 million in seed funding to expand its mission of making global banking and payments radically more accessible for Egyptians abroad. The round was led by Y Combinator, with participation from BYLD, Digital Currency Group, and other strategic investors.
The funding coincides with Munify’s graduation from Y Combinator’s Summer 2025 batch, making it one of the few fintech companies from the MENA region to join a cohort dominated by artificial intelligence startups.
“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.”
Founded in 2024 by Khalid Ashmawy—a former Microsoft and Uber executive and co-founder of proptech platform Huspy—Munify is building a cross-border digital bank tailored to Egyptians overseas.
The platform offers instant, low-cost remittances to Egypt, access to U.S. bank accounts and debit cards and currency hedging tools to protect against volatility in the Egyptian pound.
Munify is already live in the U.S., U.K., Europe, and the GCC, targeting freelancers, SMEs, and Egyptians abroad who frequently face high remittance fees and long settlement times.
The fresh capital will be invested in scaling Munify’s engineering and compliance teams, strengthening regulatory and banking partnerships, and expanding into new markets.