MoneyHash, an Egyptian fintech startup simplifying online payment management for businesses across Africa and the Middle East, has raised $5.2 million in a pre-Series A funding round. The startup plans to use the funds to deepen its presence in the Middle East and North Africa (MENA) region while exploring entry into new markets.
Details of the Fundraising Round
The round was led by Flourish Ventures and included participation from:
- Vision Ventures (Saudi Arabia)
- Arab Bank’s Xelerate Fund
- Emurgo Kepple Ventures
Angel investor Jason Gardner, founder and former CEO of Marqeta, also participated, alongside existing backers like COTU, RZM Investment, and Tom Preston-Werner.
This new funding brings MoneyHash’s total capital raised to approximately $12.7 million, following a $4.5 million seed round in 2024 and a $3 million pre-seed round in 2022.
MoneyHash’s Value Proposition
Launched in 2020 by Nader Abdelrazik and Mustafa Eid, MoneyHash aims to address the challenges of fragmented payment ecosystems in the MENA region. Many businesses, especially those operating across borders, struggle with:
- Managing multiple payment methods and providers.
- Optimizing payment processes for success rates and fraud prevention.
MoneyHash provides a unified API platform that integrates various payment gateways—such as Stripe, Checkout, Ayden, Amazon Pay, Tap, and ValU—streamlining operations and enabling merchants to manage payments seamlessly from a single dashboard.
Key Features and Selling Points
- Extensive Integration NetworkMoneyHash’s platform includes 300+ pre-integrated APIs for payment service providers, covering over 100 markets. This gives merchants flexibility and scalability in their payment operations, allowing them to adapt to evolving market needs.
- Local Payment SupportFor businesses in MENA, MoneyHash connects with local gateways like Fawry, Paymob, and PayTabs, ensuring compatibility with regional preferences.
- Fraud Prevention and OptimizationBy consolidating payment methods under one platform, MoneyHash helps businesses reduce fraud risks and enhance transaction success rates.
- Sandbox AccessThe startup initially allowed merchants to test its API in a sandbox environment, making it easier for businesses to evaluate and integrate the solution.
Leadership Insights
“We’ve built MoneyHash specifically to help merchants overcome these complex challenges and turn payments from a liability into a strategic advantage,” said Nader Abdelrazik, Co-founder and CEO.
He also emphasized the platform’s ability to future-proof payment operations, enabling businesses to stay competitive in rapidly changing markets.
Future Plans
With this new funding, MoneyHash intends to:
- Expand its reach in MENA: Strengthening its foothold in the region to cater to the growing demand for streamlined payment solutions.
- Enter new markets: Exploring opportunities outside the MENA region.
- Enhance its platform: Improving its API capabilities and developing additional features to meet the diverse needs of merchants.
- Scale team operations: Investing in talent acquisition to support its expansion and product development efforts.
The Bigger Picture
MoneyHash’s success reflects a growing demand for payment simplification in regions with fragmented payment landscapes. With its robust integration network and focus on innovation, the company is well-positioned to become a leading player in the MENA fintech ecosystem.
As digital payments continue to expand globally, MoneyHash’s platform offers a critical tool for merchants seeking efficiency, cost reduction, and growth in the evolving digital economy.