“`html
TLDR:
- MoneyHash, a leading payment orchestration platform in the Middle East and Africa (MEA), raised $5.2 million in a pre-A funding round led by Flourish Ventures.
- The company aims to address payment infrastructure challenges in emerging markets, offering a unified API, fraud prevention, and failure rate optimization.
- MoneyHash has seen rapid growth, with a 4x increase in processing volume in 2024 and over 35% of its client portfolio now comprising large enterprises.
MoneyHash, a prominent payment orchestration platform operating in the Middle East and Africa (MEA), has successfully raised $5.2 million in a pre-A funding round. The investment was led by Flourish Ventures, a global fintech investor known for backing industry leaders like Chime and FlutterWave. New investors in this round include Saudi’s Vision Ventures, Arab Bank Venture Capital, and Emurgo Kepple Ventures. Notably, Jason Gardner, founder and former CEO of Marqeta, participated as his first investment in the MEA region, while existing investors such as COTU, RZM Capital, and GitHub founder Tom Preston-Werner continued their support.
This funding follows a $4.5 million seed round in early 2024, which enabled MoneyHash to advance its technology and expand regionally. The company’s rapid progression to the pre-A round underscores its impressive growth trajectory, validated by partnerships with major brands and strong performance metrics across regional and global markets. MoneyHash addresses the fragmented payment landscape in emerging markets, where high operational costs, revenue leakage, and limited scalability are prevalent. Its platform integrates seamlessly with merchants’ existing payment providers, offering a unified API, customizable checkout experiences, advanced transaction routing, and comprehensive reporting tools.
Founded in 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash leverages the duo’s expertise in fintech and enterprise software development. The company has quickly gained traction among premier regional organizations, including Saudi Arabia’s Tamara, cloud kitchen unicorn Kitopi, and global e-commerce player Brands For Less. Large enterprises now account for over 35% of MoneyHash’s client portfolio, reflecting a threefold expansion in 2024. This strategic focus has driven a 4x increase in processing volume throughout the year.
With a diverse team of 30 professionals across nine countries and headquarters in New York City, MoneyHash has secured a total of $7.5 million in funding to date. The latest capital infusion will accelerate market penetration in the MEA region and lay the groundwork for expansion into other emerging markets. According to Nader Abdelrazik, co-founder and CEO, the company’s mission is to transform payments from a liability into a strategic advantage for merchants in underserved markets.
MoneyHash’s unique value proposition lies in its deep understanding of emerging markets and its extensive integration network, featuring over 300 pre-integrated APIs across 100+ markets. As Maram Alikaj, Chief Operating Officer, emphasized, the platform is designed to future-proof payment operations, ensuring businesses can scale confidently while maintaining superior performance metrics. With Flourish Ventures’ support, MoneyHash is well-positioned to emerge as a leader in the payment orchestration space across emerging markets.
“`