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MoneyHash raised $5.2 M Pre-series A funding for MEA expansion plans

$5.2 million in pre-Series A funding has been obtained by MoneyHash, the first and most prominent payment orchestration platform in the Middle East and Africa (MEA). Leading the round and contributing to its portfolio of more than 100 fintech startups is Flourish Ventures, a global fintech investor that has backed industry titans like Chime, Flutterwave, FairMoney, etc. Other investors include Emurgo Kepple Ventures, Xelerate from Arab Bank, and Vision Ventures from Saudi Arabia. As his first MEA investment, Jason Gardner, the founder and former CEO of Marqeta, is participating in the round. Github founder Tom Preston-Werner, RZM Investment, and COTU, who were already investors, continued to support the round.

MoneyHash has already secured a $4.5 million seed round in early 2024, building on its momentum and supporting regional expansion and technological advancements. The company’s remarkable growth trajectory, which has been confirmed by its excellent performance metrics in both regional and international markets and its successful partnerships with well-known brands, is highlighted by its quick progression to this pre-Series A round within a year.

Poor performance metrics and operational difficulties plague the payments landscape in emerging markets. There is little regional standardization or integration in the intricate web of payment providers, methods, and regulations that each market has. High operating costs, revenue leakage, and a restricted capacity to scale across markets are the outcomes of this fragmentation.

“In emerging markets, payment infrastructure remains significantly underdeveloped, with failure rates three times the global average and fraud rates and cart abandonment over 20% higher than developed markets. Drawing from our extensive experience in MEA, one of the most challenging regions globally, we’ve seen firsthand how these issues transform payments from a growth enabler into a cost and risk centre,” says Nader Abdelrazik, co-founder and CEO of MoneyHash.

Abdelrazik adds, “The opportunity to solve this is immense. In emerging markets, digital payments represent only a fraction of total transaction volume, suggesting massive growth potential in the coming decade. We’ve built MoneyHash specifically to help merchants overcome these complex challenges and turn payments from a liability into a strategic advantage.”

With its all-inclusive payment operating system designed for developing markets, MoneyHash turns current payment systems into high-performing machines. Maram Alikaj, Chief Operating Officer of MoneyHash and former payment leader at Block (formerly Square), emphasises, “We’ve built our product with a deep understanding of emerging markets’ unique challenges. Rather than letting merchants struggle with fragmented solutions, we provide a unified suite that elevates all payment performance metrics.”

In addition to offering strong features like a unified API for pay-in and pay-out operations, a fully customizable checkout process, advanced transaction routing with integrated fraud prevention and failure rate optimization, and extensive reporting tools, the platform seamlessly integrates with merchants’ current payment providers. Features like virtual wallets, subscription management, recurring payments, and payment links improve this core offering.

Alikaj adds, “What sets us apart is our focus on emerging markets combined with our unparalleled integration network. With over 300 pre-integrated APIs of payment service providers and methods across 100+ markets, we’re not just solving today’s challenges—we’re future-proofing payment operations for our merchants. This extensive coverage, paired with our specialised feature set for emerging markets, ensures that businesses can confidently scale their payment operations while maintaining superior performance metrics.”

MoneyHash’s product promises a 90% reduction in development and go-to-market expenses and a 10-15% increase in revenue generation.

Nader Abdelrazik and Mustafa Eid, two eminent Egyptian technologists, used their vast experience in fintech and enterprise software development to launch MoneyHash in early 2021. After successfully launching their enterprise suite in early 2024, the business quickly became known as the go-to option for top regional organizations. Brands For Less, a major player in global e-commerce; Kitopi, the renowned unicorn transforming cloud kitchen operations; and Tamara, Saudi Arabia’s first unicorn and leading fintech player, are notable adopters.

Due to the company’s successful strategic focus on large enterprise clients, this segment now accounts for over 35% of MoneyHash’s clientele, which represents a threefold expansion in 2024. Throughout 2024, the processing volume has increased fourfold as a result of this exceptional growth spurred by strategic positioning.

 

 

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