We are pleased to announce that Matouk Bassiouny UAE (“MB UAE”) acted as the lead transactional legal counsel to Connect Money in connection with securing USD 8 million from its seed funding round and handling all matters concerning its legal efficacy, negotiation, and closing. The matter involved 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 prepaid cards without the need to develop fintech infrastructure or obtain regulatory licensing. The solution encompasses 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 payment experience for their clients and customers through a unique SaaS offering.
This funding round will enable Connect Money to launch five new business operations in North African markets, solidifying its position as a noteworthy player in the BaaS industry.
The MB UAE team advising on the matter was led by Mohamed Essam (Partner and Head of Fintech & Emerging Companies and Venture Capital) and included Moustafa Rizk (Associate) and Dina Kamel (Associate).