Microsoft and Uber alum raises $3M for YCbacked Munify, a neobank for the Egyptian diaspora

Image for article Microsoft and Uber alum raises $3M for YCbacked Munify, a neobank for the Egyptian diaspora
News Source : TechCrunch

News Summary

  • Munify is a cross-border neobank designed to give Egyptians abroad a faster, cheaper way to send money home.
  • Earlier this year, the startup joined Y Combinator’s Summer 2025 batch, a rare entrant from outside the U.S.
  • The company raised $3 million in seed funding from the accelerator and other regional investors, including BYLD and DCG.
  • Egypt is one of the world's largest remittance markets, receiving nearly $30 billion in inflows annually.
Khalid Ashmawy remembers the first time he wired money home while studying in Europe.He had just received his monthly stipend as a masters student in Stuttgart and wanted to send part of it back to [+4784 chars]

Must read Articles