Funds Acquired by Munify Totaling $3 Million for the Creation of a Global Digital Bank Targeting Egyptians

Y Combinator, a renowned accelerator, headlines a funding round, with support from BYLD and DCG, underscoring their belief in the company's aim to revamp financial services for expatriates and simplify cross-border transactions.

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2025 September 16 . 12:39 AM

1 min read

Secures Multimillion-Dollar Investment to Establish a Global Digital Bank Catering to Egyptians

Funds Acquired by Munify Totaling $3 Million for the Creation of a Global Digital Bank Targeting Egyptians

Munify, a fintech startup based in Cairo, has secured a $3 million seed funding round. This funding round was led by top-tier accelerator Y Combinator, with investments also coming from BYLD and DCG.

Founded in 2024 by Egyptian entrepreneur Khalid Ashmawy, Munify aims to provide digital banking services for Egyptians living abroad. The mission of Munify is to modernize financial services and offer a truly modern financial solution for the Egyptian diaspora.

Munify's platform currently serves users across the U.S., U.K., Europe, and the GCC. With this funding, Munify aims to expand its services, offering instant, low-cost transfers back home, and streamlining international transactions.

The funding round also aims to support Munify's efforts in building a cross-border digital bank for Egyptians living abroad. Munify allows users to open U.S. bank accounts, get debit cards, and hedge against local currency fluctuations, empowering remote workers, freelancers, and businesses in the Middle East.

Y Combinator has recently focused on a small number of non-U.S. startups outside the AI space, and Munify was selected for its Summer 2025 batch. This demonstrates strong confidence in Munify's mission to modernize financial services for expatriates.

However, it's important to note that there is no public information available about institutions other than Y Combinator that participated in Munify's funding round. BYLD is not mentioned in the available search results regarding Munify's funding.

Despite this, Munify is a promising fintech startup, poised to make a significant impact in the financial industry. With its innovative services and the backing of reputable investors, Munify is set to revolutionize the way expatriates manage their finances.