Microsoft and Uber alum raises $3M for YC-backed Munify, a neobank for the Egyptian diaspora
- Khalid Ashmawy founded Munify to address the high costs and slow processes of sending money home for Egyptians abroad.
- Munify joined Y Combinator's Summer 2025 batch, marking a significant achievement for a startup from outside the U.S.
- The startup raised $3 million in seed funding from Y Combinator and regional investors.
Tech In Africa - Sep 4, 2025
Munify Secures $3 Million Seed Funding to Revolutionize Cross-Border Banking for the Egyptian Diaspora
Munify, a neobank for the Egyptian diaspora, has raised $3 million in seed funding to enhance remitt
Munify's approach to remittances addresses a critical pain point for many expatriates, and its innovative model could significantly disrupt traditional banking practices in Egypt. The startup's success will depend on its ability to scale and navigate regulatory challenges in the financial sector.
