Participated · Seed · Jun 2024

Connect Money provides a BaaS platform that allows trade and other businesses to issue white-label debit and credit cards and embed payments, credit and loyalty features for their customers. The platform handles card issuance, KYC, customer support and mobile banking app development, letting clients avoid building infrastructure or securing regulatory licenses. The company charges clients a subscription fee per card per month and positions itself as a back-end manager for traditional and digital businesses. Connect Money highlights use cases across sectors such as agriculture, where supply-chain companies can issue cards to farmers to improve payments and stickiness. Launched early this year, the startup is planning expansion beyond Egypt into markets including Morocco and Kenya. The founding team includes CEO Ayman Essawy, CTO Wadi Jalil and COO Abdelaziz Sarhan. The company raised an $8 million seed round to support growth.