Connect Money Secures $8 Million in Seed Stage to Launch One-Stop-Shop Embedded Finance Platform

Connect Money, the rising banking-as-a-service fintech company, focusing on embedded finance services, has successfully closed its seed funding round of $8 million led by prominent venture capital firms Disruptech Ventures and Algebra Ventures.

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. Their state-of-the-art solutions encompass digital payments, instant financing, and access to a network of over 20,000 marketplace partners. The company provides end-to-end support, including white-labeled card issuance, distribution, KYC, customer support, and mobile banking app development, simplifying the payments experience for their clients and their customers allthrough a unique SaaS offering.

This round will enable Connect Money to launch five new business verticals that will be announced separately in North African markets, emerging as the go-to platform for businesses seeking seamless banking services.

“We are immensely proud to announce the closure of our seed funding round, a testament to the confidence and support extended by our investors Disruptech Ventures, Algebra Ventures, Lorax Capital Partners, One Stop and MDP. 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.

As a third-time founder having built Dsquares (2012) and Lucky ONE (2019) along with veteran co-founders Marwan Kenawy and Momtaz Moussa, Essawy is optimistic about enabling non-financial institutions in accelerating their growth by feeding more efficiencies to their existing operations and generating new revenues streams from banking services.

“We are proud to partner with Connect Money to revolutionize embedded finance in MENA. This investment demonstrates our commitment to supporting solid teams that build disruptive technologies for financial inclusion and digital transformation,” stated Mohamed Okasha, Managing Partner of Disruptech Ventures. “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,” he added.