MoneyHash, Egypt’s payment orchestration platform operating in the Middle East and Africa (MEA), has secured $5.2M in pre-A funding to transform payments in the Middle East and Africa.
The round was led by Flourish Ventures with participation from Saudi’s Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures and investors Jason Gardner, founder and former CEO of Marqeta, as his first MEA investment. Existing investors COTU, RZM Investment, and Github founder Tom Preston-Werner also participated in the round.
MoneyHash previously secured a $4.5M seed round in early 2024, which helped it advance technologically and expand regionally and successfully partnered with prominent brands regionally and globally.
The payments landscape in MEA is fragmented and plagued with poor performance metrics and operational challenges. There is a complex web of payment providers, methods, and regulations, zero standardization or integration leading to high operational costs, revenue leakage, and limited ability to scale across markets.
MoneyHash aims to transform that.
According to Nader Abdelrazik, co-founder and CEO of MoneyHash, “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.”
MoneyHash’s comprehensive payment operating system transforms existing payment setups into high-performance engines. The platform seamlessly integrates with merchants’ existing payment providers while delivering powerful capabilities: a unified API for pay-in and pay-out operations, a fully customizable checkout experience, sophisticated transaction routing with built-in fraud prevention and failure rate optimization, and comprehensive reporting tools. This core offering is enhanced by features like recurring payments, virtual wallets, subscription management, and payment links.
“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,” said Maram Alikaj, Chief Operating Officer of MoneyHash and former payment leader at Block (formerly Square).
MoneyHash has an unparalleled integration network with over 300 pre-integrated APIs of payment service providers and methods across 100+ markets. MoneyHash’s product promises a 10–20% increase in revenue generation and a 90% decrease in go-to-market and development costs. The company’s strategic focus on large enterprise clients has yielded remarkable results, with this segment now constituting over 35% of MoneyHash’s client portfolio—representing a threefold expansion in 2024. This strategic positioning has catalyzed exceptional growth, resulting in a 4x increase in processing volume throughout 2024.
Founded in early 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash’s notable adopters include Tamara, Saudi Arabia’s inaugural unicorn and preeminent fintech player; Kitopi, the distinguished unicorn revolutionizing cloud kitchen operations; and Brands For Less, a significant force in global e-commerce.
MoneyHash, with its headquarters in New York City and a diverse workforce of 30 professionals distributed across nine countries, has previously secured $7.5M in total funding through two previous investment rounds.
The newly acquired capital will be strategically deployed to accelerate MoneyHash’s market penetration in the MEA region while laying the groundwork for strategic expansion into additional emerging markets.
Ameya Upadhyay, Venture Partner at Flourish Ventures, will be joining MoneyHash’s board of directors. He emphasizes, “MoneyHash has built a must-have product for enterprises that delivers better payment performance and higher margins from day one. As early-stage investors with a large EM-focused payment portfolio, we have first-hand experience of the massive scale of the opportunity. The team’s deep payment experience and obsessive customer focus positions them to emerge as a leader across Emerging Markets, starting with MEA. We are privileged to be part of the journey.”
“Strengthening our capital table capabilities is as crucial as enhancing our business and product offerings,” explains Abdelrazik. “In our early years, we strategically focused on partnering with strong regional investors to accelerate our market penetration. Now, with Flourish Ventures joining us, we’re establishing a solid foundation for global expansion. Having such a fintech well-seasoned, globally recognized fund as our partner is particularly crucial for our next phase of growth.”
