Khalid Ashmawy launched Munify to provide Egyptians abroad a faster, cheaper way to send money home and to give residents access to U.S. banking. He experienced high remittance costs and slow transfers while studying and working abroad, where a $400 wire could cost $40 and take three business days. Ashmawy studied computer science and earned two master's degrees in Germany and Switzerland, then worked at Microsoft and Uber. Early career frustrations and fintech experience led him to start Munify. The startup joined Y Combinator's Summer 2025 batch and raised $3 million in seed funding from YC and regional investors.
Khalid Ashmawy remembers the first time he wired money home while studying in Europe. He had just received his monthly stipend as a master's student in Stuttgart and wanted to send part of it back to his family in Cairo. It was usually a slow and expensive process, he recalled. A $400 wire transfer, for instance, could cost $40 in fees and take three business days to arrive.
The persistent pain point across different stages of his career eventually inspired Ashmawy to launch Munify, a cross-border neobank designed to give Egyptians abroad a faster, cheaper way to send money home and, for residents in the country, access to U.S. banking. Earlier this year, the startup joined Y Combinator's Summer 2025 batch, a rare entrant from outside the U.S. and one of the few without a core AI pitch in a class dominated by generative AI startups.
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