Cairo – Sharikat Mubasher: Cairo-based fintech startup Munify secured $3 million in seed funding to develop a cross-border digital bank serving Egyptians abroad.

 According to a recent press release, the platform will simplify remittances to Egypt while offering local users access to U.S. banking services.

Founded in early 2025 by Egyptian entrepreneur Khalid Ashmawy, Munify addresses the high costs and inefficiencies expatriates face when sending money home. Ashmawy, who previously worked at Microsoft and Uber, drew on his own experiences in Europe to design faster and more flexible financial solutions.

The startup recently joined the Summer 2025 batch of Y Combinator, one of the few non-U.S. companies selected amid the accelerator’s AI-heavy focus. The funding round was led by Y Combinator with participation from regional investors BYLD and DCG, signaling strong confidence in Munify’s vision to modernize financial services for the Egyptian diaspora.