Egypt’s MoneyHash, the leading payment orchestration platform operating in the Middle East and Africa (MEA), has secured US$5.2 million in pre-Series A funding as it prepares for global expansion.
Founded in 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash has developed a proprietary payment orchestration platform and end-to-end payment operating system. After a successful beta launch in 2022, attracting key players in the region such as Foodics, Rain, and Tamatem, the startup launched its enterprise suite last October, targeting large enterprises.
The startup raised US$4.5 million seed funding last February, and within less than a year has progressed to pre-Series A, in a round led by Flourish Ventures. Additional investors include Saudi’s Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures, while the round also features the participation of Jason Gardner, founder and former CEO of Marqeta, and existing investors COTU, RZM Investment, and Github founder Tom Preston-Werner.
“Strengthening our capital table capabilities is as crucial as enhancing our business and product offerings,” said 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.”
Ameya Upadhyay, venture partner at Flourish Ventures, will be joining MoneyHash’s board of directors.
“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,” he said.
“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.”
