Egypt’s Connect Money, a banking-as-a-service fintech company focused on embedded finance services, has closed a seed funding round worth US$8 million to help it launch five new business verticals. Connect Money offers a comprehensive white-label card issuing platform that enables businesses to provide their customers with debit and credit cards without the need to develop fintech infrastructure or obtain regulatory licensing. This significant seed investment underscores our hyper-growth potential as we strive to eliminate existing pain points for businesses aiming to become financially enabled,” said Ayman Essawy, co-founder and CEO of Connect Money. “We are proud to partner with Connect Money to revolutionise embedded finance in MENA. “Connect Money’s expertise, deep market knowledge, and cutting-edge integrated tech will greatly enhance accessibility and efficiency in financial services, benefiting the fintech-enabled ecosystem and transforming banking operations while positioning Egypt as a valuable hub for exporting embedded finance services.”
