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BanknBox

Can a MENA-native BaaS and card-processing platform become the dominant payments infrastructure layer for banks and fintechs across Egypt, the Gulf, and North Africa?

Founded2023
HQCairo, Egypt
FoundersBasem Mahmoud
Total raisedundisclosed (Seed, $10M regional HQ investment noted)
Latest roundSeed, December 2023
IndustryInfrastructure / BaaS
The story

Founded in 2023 in Cairo, BanknBox was built on 15 years of accumulated fintech experience of its founding team, positioning itself from day one as a unified Banking-as-a-Service (BaaS) orchestration platform for banks, neobanks, and fintechs in the MENA region. The company pursued rapid regulatory credentialing (PCI DSS, PCI PIN, PCI MPoC) to differentiate as infrastructure-grade. In 2025, it expanded into the Gulf via a Qatar Financial Centre license and a strategic partnership with Cwallet, deploying its CoreLINK platform and prepaid Visa card program. The strategic bet is to be the region's white-label payments and core banking stack, competing with global BaaS players on local regulatory expertise and scheme integrations.

Last 12 months
2025-03
2025-03
2025-12
Product timeline
2023
Banknbox founded by Basem Mahmoud and opened a $10M regional headquarters in Cairo, Egypt, positioning itself as a B2B banking and payments SaaS platform for banks and fintechs.· pivot
2023
Received seed investment from Disruptech Ventures, Egypt's leading fintech VC, to accelerate regional expansion.· banking
2025
banknbox Egypt achieved PCI DSS and PCI PIN certifications in collaboration with TechLine, marking a global compliance milestone.· banking
2025
Established Qatar headquarters, obtained QFC license, and signed strategic alliance with Cwallet to deploy CoreLINK platform and Himyan prepaid Visa cards in Qatar.· card
2025
Achieved PCI MPoC certification, becoming one of only 17 globally certified SoftPOS solution providers.· banking
Regulated entities
4
regulatory licences held by BanknBox
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in BanknBox’s embedded-finance stack
Banking / BaaS
BanknBox (self-operated)
Card issuing
in the full report
Card network
in the full report
Accounting gap: none
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.