Munify
Category: AI in Fintech
Cross-border neobank for the Middle East and its diaspora, offering USD accounts, virtual cards and stablecoin-powered transfers. Munify was founded in 2024. The company is led by Khalid Ashmawy. Based in Orlando, Florida, United States. Team size: 1-10. Total funding raised: $6M. Latest round: Seed. Key investors include Y Combinator, 1confirmation, White Star Capital, Digital Currency Group (DCG), BYLD Ventures, Rebel Fund.
- Founded
- 2024
- Headquarters
- Orlando, Florida, United States
- Team size
- 1-10
- Total funding
- $6M
Value proposition
To provide a faster, more affordable, and seamless way for Egyptians abroad to send money and manage finances across borders, bypassing the slow and costly traditional banking systems.
Products and solutions
Cross-border payments and remittances, U.S. bank accounts for residents in Egypt, Stablecoin-powered transactions
Unique value
Munify is building its own financial infrastructure, or 'banking rails,' to directly connect financial systems between countries, specifically targeting the U.S.-Egypt corridor. This approach aims to reduce reliance on traditional, slow, and expensive correspondent banking networks.
Target customer
Primarily the Egyptian diaspora (Egyptians living and working abroad) and their families or recipients in Egypt.
Industries served
Fintech, Financial Services, Remittance & Cross-Border Payments
Technology advantage
The core advantage lies in leveraging blockchain technology and stablecoins to facilitate instant, secure, and low-cost international money transfers. By creating their own rails, they can control the user experience, offer competitive rates, and provide services like U.S. bank accounts to users in Egypt, which is a significant differentiator.
How they differentiate
Munify is a cross-border neobank for the Egyptian diaspora, offering not just remittances but also local financial products like high-yield savings accounts and certificates of deposit in Egyptian pounds.
Main competitors
Banque du Caire, eKhales, Balad
Key partnerships
Y Combinator, Circle Payments Network (CPN)
Notable customers
Information not publicly available.
Major milestones
Raised $6 million in seed funding from Y Combinator, 1confirmation, White Star Capital, DCG, BYLD, and Rebel Fund, Backed by Y Combinator (S25), Received in-principle approval for DFSA license in UAE (Nov 2025), Integrated with Circle Payments Network for USDC-powered payouts in the Philippines (June 2026)
Growth metrics
Information not publicly available.
Market positioning
Munify is positioned as a comprehensive financial platform for Egyptians abroad, aiming to be their primary banking partner for both sending money home and accessing local financial services in Egypt.
Geographic focus
Munify primarily serves Egyptians in the U.S., U.K., Europe, and the Gulf region who wish to send money and manage finances in Egypt.
Patents and IP
Information not publicly available. As an early-stage startup, it is unlikely they have public patents at this time.
About Khalid Ashmawy
CTO & Co-founder at Huspy, Engineering Manager at Uber, Software Engineer at Microsoft
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Official website: https://www.munify.ai/