Egyptian fintech and leading payment orchestration platform in the Middle East and North Africa (MENA), MoneyHashsecured $5.2 million in Pre-A funding.
The tour was led by Thriving Businesses – a global fintech investor behind industry leaders like Chime, Flutterwave, FairMoney and Neon – adding to its portfolio of more than 100 fintech startups.
Additional investors include:
The cycle also saw the participation of Jason Gardnerfounder and former CEO of Marqeta, as his first MEA investment.
Existing investors:
also participated.
Founded in 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash has created a proprietary payments orchestration platform and comprehensive payments operating system.
In 2023, MoneyHash saw significant growth, doubling its network of integrations, tripling its revenue and increasing its processing volume by 30x. The company also gained large enterprise customers soon after its launch in October 2023.
The startup’s pipeline of companies and long-term contracts helped raise pre-Series A funding. These customers generated a 4x increase in processing volume and a 3x increase in revenue over the past year (2024), although specific figures are not disclosed.
Their solution delivers a unified payments experience built on a secure super-API that brings together payment and fintech solutions through a single integration as well as a central dashboard consolidating technical infrastructure and centralizing operational data and reporting .
After a successful beta launch in 2022, which attracted notable customers like Foodics, Rain and Tamatem, the startup presented its enterprise suite last October (2024), aimed at large companies.
“Strengthening our capital capabilities is as critical as improving our operations and product offerings” said Abdelrazik.
“During our early years, we strategically focused our efforts on partnering with strong regional investors to accelerate our market penetration. Today, with the arrival of Flourish Ventures, we are establishing a solid foundation for global expansion.
Having such an experienced and globally recognized fintech fund as a partner is particularly crucial for our next phase of growth.
Based in New York, the startup operates with a team of 30 professionals spread across nine countries. The company has already raised a total of $7.5 million through two funding cycles.
FINANCING | Egyptian fintech, MoneyHash, raises $4.5 million to expand its payments orchestration platform – https://t.co/f5rDHg1lcc#Funding #Startups #Fintech #OrchestrationPayment
🌟Summary of news in response🌟https://t.co/WGKVMCgIz4
– Funding News (@fundingnews_) March 1, 2024
The newly obtained capital will be used strategically to accelerate its growth in the MEA region while preparing for expansion into other emerging markets. In 2022, MoneyHash expressed its intention to expand in sub-Saharan AfricaSouth Africa, Nigeria and Kenya being mentioned.
Egyptian API and payments aggregator MoneyHash launches services across Africa
The startup, which raised $3 million in seed funding, describes itself as the Middle East and Africa’s “first super-API for payments orchestration and revenue operations.”https://t.co/Wa9pPprCve
–BitKE (@BitcoinKE) October 26, 2022
See also
The deal will also see Ameya Upadhyay, Venture Partner at Flourish Ventures, join the MoneyHash board of directors.
“MoneyHash has created a must-have product for businesses that delivers better payment performance and higher margins from day one” said Upadhyay.
“As early-stage investors with a large payments portfolio focused on emerging markets, we have first-hand experience of the scale of this opportunity. The team’s deep payments experience and obsessive customer focus position it to become a leader in emerging markets, starting with MEA. We are privileged to be part of the journey.
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