Connect Money Closes $8 Million in Seed Round
Connect Money, an Egypt-based banking-as-a-service fintech company focused on embedded finance services, closed an $8 million seed round.
Connect Money, an Egypt-based banking-as-a-service fintech company focused on embedded finance services, closed an $8 million seed round.
Investors
The round was led by Disruptech Ventures and Algebra Ventures.
Disruptech Ventures is a fintech venture capital firm based in Egypt, specializing in early-stage fintech and fintech-enabled startups. They aim to be the first call for emerging fintech founders and the first investor in their ventures.
Algebra Ventures is a tech-focused venture capital firm that partners with ambitious founders building transformative companies in Egypt and across Africa. The firm supports founders from the seed stage through to Series B funding.
Connect Money Use of Funds
Connect Money plans to use the funding to expand its footprint in embedded finance services across North Africa and to launch five new business verticals.
About Connect Money
Founded by Ayman Essawy, Marwan Kenawy, and Momtaz Moussa, Connect Money offers a white-label card issuing platform that enables businesses to provide debit and credit cards to their customers without needing to develop fintech infrastructure or obtain regulatory licenses. They provide end-to-end solutions, including digital payments, instant financing, and access to a network of over 20,000 marketplace partners.
Funding Details
Company: Connect Money
Raised: $8.0M
Round: Seed Round
Funding Month: June 2024
Lead Investors: Disruptech Ventures, Algebra Ventures
Additional Investors:
Company Website: https://www.connect.money/
Software Category: Financial
