Egypt's MoneyHash Raises $5.2M in Pre-Series A Round for MEA Expansion
TLDR
- Egyptian-founded fintech MoneyHash has raised $5.2 million in pre-Series A funding, led by Flourish Ventures
- Launched in 2021, MoneyHash provides a payment orchestration platform tailored to emerging markets
- The funds will accelerate MoneyHash's market penetration in the Middle East and Africa (MEA)
Egyptian-founded fintech MoneyHash has raised $5.2 million in pre-Series A funding, led by Flourish Ventures, with participation from Vision Ventures, Arab Bank's Xelerate, and Emurgo Kepple Ventures. Notable individual investors, including Jason Gardner (former CEO of Marqeta), joined the round, alongside existing investors like COTU Ventures and Github founder Tom Preston-Werner.
Launched in 2021, MoneyHash provides a payment orchestration platform tailored to emerging markets. It integrates existing payment providers into a unified system with features like a unified API, fraud prevention, and advanced routing, reducing development costs by up to 90% and boosting revenue by 10-15%.
MoneyHash’s client base includes prominent names like Tamara, Kitopi, and Brands For Less, contributing to a 4x increase in processing volume in 2024. The funds will accelerate MoneyHash's market penetration in the Middle East and Africa (MEA) and support strategic expansion into other emerging markets.
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Key Takeaways
Emerging markets like MEA face unique payment challenges, including fragmented payment infrastructure, higher failure rates, and limited standardization. MoneyHash tackles these issues with a comprehensive suite that integrates over 300 APIs across 100+ markets, enhancing performance metrics and enabling scalability. This funding builds on MoneyHash's previous $4.5 million seed round in early 2024. With Flourish Ventures joining its board, MoneyHash aims to leverage its growing capital base to solidify its position in MEA and enter new markets.
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