MoneyHash, one of the first and leading payment orchestration platforms operating in the Middle East and Africa (MEA), announced it secured $5.2 million in pre-A funding. The funding round was led by Flourish Ventures, a global fintech investor known for backing industry leaders such as Chime and FlutterWave. New investors include Saudi’s Vision Ventures, Arab Bank Venture Capital, and Emurgo Kepple Ventures.
This funding round featured the participation of Jason Gardner, founder and former CEO of Marqeta, as his first MEA investment, and the round saw continued support from existing investors COTU, RZM Capital, and Github founder Tom Preston-Werner.
Building on the momentum, MoneyHash secured a $4.5 million seed round in early 2024, which fueled technological advancements and regional expansion initiatives. This swift progression to the pre-A round within the last year highlighted the company’s exceptional growth trajectory, validated by its successful partnerships with prominent brands and remarkable performance metrics across regional and global markets.
The payment landscape in emerging markets has poor performance metrics and operational challenges. And each market has its complex web of payment providers, methods, and regulations, with limited standardization or integration between regions. This fragmentation also results in high operational costs, revenue leakage, and limited ability to scale across markets.
MoneyHash offers a comprehensive payment operating system built for emerging markets, transforming existing payment setups into high-performance engines.
This 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. And this core offering is enhanced by features like recurring payments, virtual wallets, subscription management, and payment links.
Launched in early 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash emerged from the vision of two distinguished Egyptian technologists, leveraging their extensive expertise in fintech and enterprise software development. Following the deployment of their enterprise suite in early 2024, the company rapidly established itself as a preferred solution among premier regional organizations. And 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.
The company’s 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. And this strategic positioning has catalyzed exceptional growth, resulting in a 4x increase in processing volume throughout 2024.
MoneyHash, with its in New York City and a diverse workforce of 30 professionals distributed across nine countries, previously secured $7.5 million in total funding through two previous investment rounds. And 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.
KEY QUOTES:
“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 center.”
“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.”
“Strengthening our capital table capabilities is as crucial as enhancing our business and product offerings. 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.”
– Nader Abdelrazik, co-founder and CEO of MoneyHash
“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.”
“What sets us apart is our focus on emerging markets combined with our unparalleled integration network. With over 300 pre-integrated APIs connecting to 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 specialized feature set for emerging markets, ensures that businesses can confidently scale their payment operations while maintaining superior performance metrics.”
– Maram Alikaj, Chief Operating Officer of MoneyHash and former payment leader at Block (formerly Square)
“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 a 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.”
– Ameya Upadhyay, who will be joining MoneyHash’s board of directors
