• Egypt-based fintech Munify has raised a $3 million seed round led by Y Combinator, with participation from BYLD and Digital Currency Group.
• Founded in 2024 by Khalid Ashmawy, Munify enables instant, low-cost transfers to Egypt, US bank account opening, debit card issuance, and FX tools to hedge against currency volatility.
• The funding will expedite engineering, compliance, and market expansion, with YC's support providing access to global partnerships and talent.

Press release:

Cairo-based fintech Munify has raised $3 million in a seed round led by Y Combinator, with participation from BYLD and Digital Currency Group, alongside other strategic investors.

The funding coincides with Munify’s graduation from YC’s Summer 2025 batch, marking one of the few MENA fintech startups to join the accelerator in a cycle dominated by AI companies.

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 abroad. Its platform offers instant, low-cost remittances to Egypt, the ability to open U.S. bank accounts, issue debit cards, and tools to hedge against local currency volatility.

Munify’s services are already available in the U.S., U.K., Europe, and the GCC, targeting freelancers, SMEs, and Egyptians living overseas who face high remittance fees and delays in settlement.

The new capital will be used to scale engineering and compliance teams, strengthen regulatory and banking partnerships, and expand into additional markets.

“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.”