Connect Money closes $8M seed funding round
Updated 6/25/2024 2:14:00 PMArab Finance: Connect Money, the rising banking-as-a-service fintech company, has secured $8 million in a seed funding round, according to a press release.
The funding round was led by venture capital firms Disruptech Ventures and Algebra Ventures.
Through this round, Connect Money will be capable of maintaining its growth path in existing markets, such as Egypt and Morocco, fostering innovation and advanced technologies, and accelerating new market entries with a prime focus on Africa.
It will enable Connect Money to launch five new business verticals.
Emerging as the go-to platform for businesses seeking seamless banking services, each will be announced separately in North African markets 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,” Ayman Essawy, Co-founder and CEO of Connect Money, said.
“This significant seed investment underscores our hyper-growth potential as we strive to eliminate existing pain points for businesses aiming to become financially enabled," he added.
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