The funding will fuel the company’s expansion efforts across North Africa, establishing Connect Money as the go-to platform for businesses seeking seamless and integrated banking solutions.

The round was co-led by prominent venture capital firms DisrupTech Ventures and Algebra Ventures, with participation from Lorax Capital Partners, One Stop Capital, and MDP.

Connect Money plans to leverage the fresh capital to launch five new business verticals within the North African market, details of which will be revealed soon.

The company will focus on three key areas: furthering its presence in established markets like Egypt and Morocco, driving innovation and technological advancements, and accelerating its entry into new, high-potential African markets.

Founded in 2024 by Ayman Essawy, Marwan Kenawy, and Momtaz Moussa, Connect Money offers a white-label card issuing platform.

This innovative solution empowers businesses to provide debit and credit cards to their customers without the need to invest in building their own fintech infrastructure or navigate complex regulatory licensing processes.

Connect Money’s comprehensive suite of solutions includes digital payments, instant financing options, and access to a vast network of over 20,000 marketplace partners.

Additionally, the company provides end-to-end support, encompassing KYC verification, customer service assistance, and mobile banking app development.

This unique Software-as-a-Service (SaaS) offering streamlines the payment experience for both businesses and their customers.

“This significant seed investment underscores Connect Money’s exceptional growth potential,” said Ayman Essawy, Co-founder and CEO of Connect Money.

“We are committed to eliminating existing pain points for businesses seeking financial enablement.”

Connect Money joins a growing number of innovative fintech companies in Africa’s BaaS sector, alongside players like Nigeria’s Anchor, Maplerad, and Bloc.