Egypt’s Munify Raises USD 3 M Seed Round To Build Cross-Border Digital Bank

Egyptian fintech Munify has raised USD 3 M in seed funding, led by Y Combinator with participation from BYLD and Digital Currency Group. The round comes as Munify graduates from YC’s Summer 2025 batch, one of the few MENA fintechs in a cycle dominated by AI.

Founded in 2024 by Khalid Ashmawy (ex-Microsoft, Uber, and Huspy co-founder), Munify is building a cross-border digital bank for Egyptians abroad. Its platform enables instant, low-cost transfers to Egypt, U.S. bank account opening, debit card issuance, and FX tools to hedge against the pound’s volatility.

Already active in the U.S., U.K., Europe, and GCC, Munify is targeting freelancers, SMEs, and millions of Egyptians overseas struggling with costly, fragmented remittance services.

With the new capital, Munify plans to scale its engineering, compliance, and regulatory partnerships. “We’re building the infrastructure to make global banking and payments radically more accessible for Egyptians, wherever they live,” said Ashmawy.