Emerging from beta, MoneyHash, an Egypt and U.S.-based fintech startup, has announced securing $3 million in pre-seed funding to strengthen its payment orchestration platform targeting the Middle East and Africa. With its “super-API,” MoneyHash seeks to streamline the fragmented payment landscape in these regions by offering a unified solution for payment integration and revenue operations.
This funding round is an extension of an earlier undisclosed six-figure raise, led by COTU Ventures with participation from other investors, including VentureSouq, Kepple Africa Ventures, Nuwa Capital, and First Check Africa. Angel investors such as NerdWallet’s Tim Chen and Belvo’s Oriol Tintore also contributed.
Addressing Payment Integration Challenges
In many emerging markets, businesses face significant hurdles when integrating multiple payment methods. The process is time-intensive, often requiring weeks of technical work to accommodate varying currencies, payment methods, and isolated systems across different geographies.
MoneyHash offers a solution by providing a single platform that connects merchants to multiple payment providers, simplifying operational complexities and reducing the time needed for integration. According to CEO Nader Abdelrazik, the platform acts as a “one-stop-shop” for businesses to manage their payment systems across the Middle East and Africa seamlessly.
Core Features and Market Penetration
MoneyHash’s infrastructure supports features like transaction routing, subscription management, and unified checkout systems. Businesses using the platform can integrate with multiple payment providers, including regional giants such as Fawry, Paymob, PayTabs, Stripe, and Ayden. The startup initially launched in Egypt in early 2021 and has since onboarded paying clients from diverse industries, including e-commerce, travel, and remittances.
The platform offers pricing tiers ranging from $150 to $1,000 per month based on the number of connected providers, alongside transaction fees that decrease as payment volumes grow.
Vision and Future Plans
With a 15-member team spread across the U.S., Egypt, UAE, Nigeria, and parts of Europe, MoneyHash aims to scale its operations further. The startup envisions becoming the “AWS of payments” for emerging markets by creating an adaptable infrastructure that supports businesses in building tailored payment solutions without overhauling existing systems.The funding will enable MoneyHash to enhance its platform, expand its engineering team, and accelerate market entry into sub-Saharan Africa, where partnerships with providers like Paystack and Flutterwave are anticipated.
Amir Farha of COTU Ventures lauded the team’s expertise and readiness, stating, “MoneyHash is led by three remarkable founders with deep knowledge of payments and a clear vision. We are excited to be part of their journey as they transform the payments landscape in these emerging markets.”With its innovative approach and growing traction, MoneyHash is poised to fill a critical gap in the fragmented payment ecosystem of the Middle East and Africa.
