“Can a white-labeled Card-as-a-Service platform unlock embedded finance for Africa's cash-heavy, non-bank businesses?”
Egyptian fintech founded in 2023 as a white-labeled Card-as-a-Service (CAAS) and embedded finance platform targeting non-bank businesses across Africa and the MENA region. Positions itself as a one-stop-shop for cashless payments, card issuance (Visa, Mastercard, Meeza), lending, and rewards, having issued over 300,000 cards to date. The thesis: enable cash-heavy businesses to onboard underbanked users via white-labeled apps and cards without the regulatory or infrastructure overhead of becoming a bank.
Connect Money's cards run on Visa, Mastercard and Meeza.
Connect Money is founded in 2023 and headquartered in Cairo, Egypt.
Connect Money has raised $8M+ in total (latest round: Seed, 2024).
Get a read on where your own stack stands against Connect Money and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.