Egyptian Fintech Startup Connect Money Secures $8 Million in Seed Funding Round

Connect Money, a fintech company based in Egypt, has raised $8 million in seed funding to support the launch of five new business verticals. Specializing in banking as a service and embedded financial services, Connect Money’s white-label platform allows businesses to offer debit and credit cards to their consumers without the need for developing fintech infrastructure or obtaining regulatory licensing.

The seed funding round was led by Algebra Ventures and Disruptech Ventures. With this new funding, the startup will introduce five new business verticals to the North African market, reinforcing its position as the go-to platform for businesses seeking easy banking solutions.

Connect Money is revolutionizing digital payments, rapid financing, and marketplace integration with its advanced solutions. Offering an innovative SaaS platform, Connect Money simplifies the payment process for both clients and consumers by handling everything from white-label card issuance and distribution to KYC procedures, customer support, and the development of mobile banking apps.

By Grace Ashiru.
Full story at Tech in Africa.