Munify, a cross-border digital bank founded by Egyptian entrepreneur Khalid Ashmawy, has raised 3 million in seed funding to expand its services for Egyptians living abroad.
Ashmawys Munify expands with new funding
The round was led by Y Combinator with participation from BYLD, Digital Currency Group, and other investors. The funds will be used to grow Munifys engineering and compliance teams, strengthen regulatory and banking partnerships, and expand into new regional markets.