Payment platform MoneyHash secures $5.2 million in pre-Series A funding for expansion in developing countries, focusing on payment orchestration services.
MoneyHash Secures $5.2 Million Pre-Series A Funding for Expansion
MoneyHash, a pioneering payment orchestration platform, has recently raised $5.2 million in a pre-Series A round. This funding will allow the company to address payment fragmentation, reshape money processing technology, and establish itself as the new standard in Africa and the Middle East.
Founded in early 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash offers a comprehensive payment operating system built specifically for emerging markets. The platform integrates with merchants' existing payment providers, providing features like a unified API for pay-in and pay-out operations, customizable checkout experiences, transaction routing with fraud prevention, and comprehensive reporting tools.
According to the company, its solution promises a 10-15 percent increase in revenue generation and a 90 percent decrease in go-to-market and development costs. This claim is backed by its impressive client base, which includes Saudi's first unicorn Tamara, cloud kitchen operator Kitopi, and e-commerce player Brands For Less.
The round was led by Flourish Ventures, with participation from Vision Ventures, Arab Bank's Xelerate, Emurgo Kepple Ventures, Marqeta founder Jason Gardner, COTU, RZM Investment, and Github founder Tom Preston-Werner. This diverse group of investors underscores the confidence in MoneyHash's potential to revolutionize the payment landscape in the region.
MoneyHash has seen significant growth, with its processing volume increasing 4x throughout 2024. The startup has also gained notable traction among enterprise clients, which now make up over 35 percent of its customer base.
Nader Abdelrazik, co-founder and CEO of MoneyHash, stated that the opportunity to solve payment infrastructure issues in emerging markets is immense. He emphasized that the company's strategy is to transform fragmented payment environments into streamlined, interconnected platforms, driving broader fintech adoption across Africa and the Middle East.
With this funding, MoneyHash plans to leverage its resources to accelerate product development, expand partnerships, and scale operations to meet the growing digital payment demands in the region. The company's focus on building next-generation payment systems that offer more seamless and scalable digital payment solutions supports e-commerce growth and financial inclusion in these markets.
In conclusion, MoneyHash's strategic approach to solving payment fragmentation, regional expansion, technology enhancement, and leveraging pre-Series A funding positions it well to reshape the payment landscape in the Middle East and Africa, making digital transactions more efficient and accessible for businesses and consumers alike.
The new funding will allow MoneyHash to reshape money processing technology in Africa and the Middle East.
With its focus on building next-generation payment systems, MoneyHash aims to provide more seamless and scalable digital payment solutions, supporting e-commerce growth and financial inclusion in these regions.
