Egyptian Fintech Connect Money Raises USD 8 M Seed Round

Connect Money, an Egyptian banking-as-a-service fintech company, focusing on embedded finance services, has successfully closed its seed funding round of USD 8 M led by venture capital firms Disruptech Ventures and Algebra Ventures. The round will enable Connect Money to launch five new business verticals that will be announced separately in North African markets.

Founded in 2024 by Ayman Essawy, Marwan Kenawy and Momtaz Moussa, Connect Money offers a comprehensive white-label card issuing platform that enables businesses to provide their customers with debit and credit cards without the need to develop fintech infrastructure or obtain regulatory licensing. Their solutions encompass digital payments, instant financing, and access to a network of over 20,000 marketplace partners. The company provides end-to-end support, including white-labeled card issuance, distribution, KYC, customer support, and mobile banking app development, simplifying the payments experience for their clients and their customers all through a unique SaaS offering.