MoneyHash, a payment orchestration platform based in Egypt, has raised $5.2 million in pre-Series A funding as it prepares to expand globally. The company, founded in 2021 by Nader Abdelrazik and Mustafa Eid, has developed a proprietary payment orchestration platform and end-to-end payment operating system.
MoneyHash aims to simplify the process of building and managing payment functionalities by offering an agnostic cloud that consolidates all payment APIs, features, and technical capabilities. The platform’s goal is to enhance the efficiency and scalability of financial infrastructure, enabling businesses globally to focus on their core operations. By providing the flexibility to select the most suitable payment service providers without being locked in, MoneyHash helps businesses unlock cost savings and maximize efficiency, all while benefiting from the best pricing available in the market.
After successfully launching its beta in 2022 and attracting major regional players like Foodics, Rain, and Tamatem, MoneyHash launched its enterprise suite in October, targeting large enterprises across the region.
The startup raised $4.5 million in seed funding in February 2024 and, in less than a year, has advanced to a pre-Series A round led by Flourish Ventures. Other investors include Saudi’s Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures. The round also saw participation from Jason Gardner, founder and former CEO of Marqeta, as well as 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 join the MoneyHash 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.”
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