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Khalid Ashmawy If you remember the first time you have cabulated money at home while studying in Europe.
I had just received his monthly stipend as a teacher’s teacher’s student and wanted to send part to his family in Cairo. Usually was a slow and darling process, reminded. A $ 400 wire transfer, for example, could cost $ 40 in fees and take three days of work to arrive.
Years later, while working on Microsoft and Uber in us, and even after founding a Starcup, that the experiment had no improvement.
Persistent pain to the point of the various stops eventually inspired aspired to launch MuniifyA tired neobank designed to give Egyptians to a fastest way, cheaper mode of sending money at home and, for the residents in the country, united States banking.
First this year, the startup join The summer of the combinator 2025 batchA rare buried from outside of the United States and one of the few hearts without a pitch in a class dominated to stacked generative The company also raised $ 3 million in the seeding funding from accelerator and other regional investors, including byld and dcg.
“The bank is not built for people like me. It is very cost, take a long time, and is fragmented,” The founder and executive head has told an atspection. “It is a problem that I have personally experienced and the one who brings with many people who want to send money at home quickly and effective.”
Ashmawy has earned in Egypt, studied science, and has developed a software first. A scarcipy took it in Europe, where has two master degrees in Germany and Switzerland.
From there, spent seven years as a team leader and the team heads to Microsoft and Uber – experiences that open their eyes and disruption.
His next step was inevitable. In 2019, Ashmawy Left Uber to Funder Funder Funder Huspy Funder’s launcherPlaze Proportive ofic Support in the Middle East, serve as to their Chief Theriton technology up to 2022.
Leave the woods from space to reflect on their immigrant journey. Once, the property of the remittance has tossed large. Meanwhile, in other emergent markets, platform as nigeria Lemfi and India Aspopa They were already dropped, helping the migrants from those countries send money at home.
Egypt is one of the world’s greatest discharge markets, Receive almost $ 30 billion in the dirt. I am
While riding marriage and removal warehouse like the moneygram will make the dominant options, munet hopes for transfers that smaller and pharmed.
According to Ashmawy, moniquarians see sandwich Adve and mainly, Europe, and the Gulf of sending money and best taxes.
Millies also provide the companies, remote workers, and freelances in the Eastern Middle “to open a US bank account to receive a local ID, and spending the will of the local currency.
“The main reasoning why we are different from our rails and directly conditioning Bank Systems, which CEDA has said two weeks ago, visit to the mouth with museums of sign-ons.
“We really measured this experience for people from the region,” said ASHWY.
On the side of the deal, muniify contracts with half and businesses, which represents a volume of $ 50 + million in the volume of monthly border.
The start, that operates on a consumer model and company company and bank services, while providing payments for the business and receiving the world
Their entries comes from spreads FX, interchange and payment flows.
The milk fighter in the last few years of years favor the developers of developers from the United States. So how did Egyptian finish? Ashmawy credits the acute nature of the problem.
“If you solve a major and urgent problem, that’s what really matters, regardless if the current wave is or something else,” he said.
But I am preceding for this back too. Yc has historically invested in Startips resolves the problems of last financial infrastructure, by Stripe to the Coinbase. Indificific similar one of the most incolutely mori. Serve to global funding and one of the strange colleagues before the stomet
In the middle of that, munet a chance at a founder with two username of the USCMENT, a track of construction one of connecting the top of the mena to the problem
