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]
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