Payment platform MoneyHash secures $5.2 million in pre-Series A funding to expand its payment orchestration services in developing regions
MoneyHash Secures $5.2 Million Pre-Series A Funding for Expansion in Emerging Markets
MoneyHash, a payment orchestration platform designed specifically for emerging markets, has raised $5.2 million in a pre-Series A funding round. The funding round was led by Flourish Ventures, with participation from Vision Ventures, Arab Bank’s Xelerate, Emurgo Kepple Ventures, Marqeta founder Jason Gardner, COTU, RZM Investment, and Github founder Tom Preston-Werner [2][4].
As part of the funding, Ameya Upadhyay, Venture Partner at Flourish Ventures, will join MoneyHash’s board of directors. This investment will be used to accelerate market penetration in the Middle East and Africa (MEA) region and prepare for expansion into additional emerging markets [1].
MoneyHash offers a comprehensive payment operating system that integrates with merchants’ existing payment providers. Its platform provides features like a unified API for pay-in and pay-out operations, a customizable checkout experience, transaction routing with fraud prevention, and comprehensive reporting tools [1].
The company currently employs 30 professionals across nine countries. Some of MoneyHash’s prominent clients include Saudi’s first unicorn Tamara, cloud kitchen operator Kitopi, and e-commerce player Brands For Less [1].
Flourish Ventures comments that MoneyHash has built a must-have product for enterprises, delivering better payment performance and higher margins from day one [1]. Over 35% of MoneyHash’s customer base is made up of enterprise clients, representing a threefold expansion in 2024 [1].
MoneyHash’s co-founder and CEO, Nader Abdelrazik, stated that the opportunity to solve payment infrastructure issues in emerging markets is immense [1]. The company has seen significant growth, with its processing volume increasing 4x throughout 2024 [1].
Following the funding, MoneyHash announced a strategic partnership with Lean Technologies, which is expected to enhance its payment orchestration capabilities and provide better solutions to merchants and payment service providers in the Middle East and Africa [1]. This partnership indicates MoneyHash’s strategic plan involves leveraging partnerships to strengthen its technology offerings and regional presence.
However, specific details about further growth plans were not explicitly outlined in the search results. The combination of significant funding and partnerships suggests MoneyHash aims to scale its platform, improve integration and payment infrastructure, and capture more market share in the rapidly digitalizing MEA payments ecosystem [2][4].
In summary, after raising $5.2 million, MoneyHash is focusing on strategic partnerships and platform enhancement as key components of its growth and expansion strategy in the Middle East and Africa. The company promises a 10-15 percent increase in revenue generation and a 90 percent decrease in go-to-market and development costs [2][4].
The investment secured by MoneyHash, a payment orchestration platform focusing on emerging markets, will be utilized to expand its business in the Middle East and Africa, and potentially other regions, as its platform integrates with various payment providers and serves both merchants and enterprise clients. Leveraging technology, MoneyHash aims to partner with other companies for orchestration capabilities and strengthen its presence in the rapid digitalization of the MEA payments ecosystem, promising enhanced revenue generation and reduced cost.
