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Reading: MoneyHash, which provides single access to payment services in MENA, banks $5.2M
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African News Herald > Blog > Technology > MoneyHash, which provides single access to payment services in MENA, banks $5.2M
Technology

MoneyHash, which provides single access to payment services in MENA, banks $5.2M

ANH Team
Last updated: January 29, 2025 7:34 am
ANH Team
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MoneyHash Raises $5.2 Million to Simplify Payment Stacks for Emerging Markets

When merchants or companies launch online, they typically start by partnering with one or two payment processors. But as they grow and expand into new regions, they often need to onboard additional payment partners to meet different customer (and sometimes regulatory) needs, a process that comes with some hurdles.

That’s given rise to companies to help manage the process. MoneyHash, a fintech startup based in Egypt, has raised $5.2 million in funding as it scales to target larger enterprises in the Middle East and Africa. The company, founded by Nader Abdelrazik and Mustafa Eid in early 2021, specializes in payment orchestration, a service that helps merchants manage complex payment stacks more easily.

The world of payments is fragmented, with businesses often working with multiple providers to handle transactions. Integrating these payment stacks can be operationally inefficient and technically complex, especially in regions like Africa and the Middle East where there are various payment methods and currencies. MoneyHash aims to simplify this process by aggregating and streamlining payment processes through APIs.

Abdelrazik and Eid founded MoneyHash after observing the costly and risky bottlenecks that many merchants face in the payment process. They believe that payment orchestration is the solution to these challenges, allowing merchants to reduce operational costs, prevent revenue leakage, and scale across regions more effectively.

MoneyHash offers a range of features to its customers, including a unified API for pay-in and pay-out operations, customizable checkout, advanced transaction routing with fraud prevention, failure rate optimization, and detailed reporting tools. The company also supports recurring payments, virtual wallets, subscription management, and payment links, providing an all-in-one solution for merchants.

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Unlike its competitors in the U.S., U.K., and Europe, MoneyHash focuses on serving customers in emerging markets. The company has built a vast integration network with over 300 pre-integrated APIs covering 100+ markets, including partnerships with processors and gateways like Adyen, Amazon Pay, Stripe, and more.

MoneyHash initially targeted small merchants but has recently expanded its focus to larger enterprises with the launch of its enterprise suite. This move has allowed the company to achieve notable scale, with enterprises across industries like consumer fintech, hospitality, e-commerce, and gaming now making up 35% of its clientele.

The recent $5.2 million funding round was led by global fintech investor Flourish Ventures, with participation from Saudi’s Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures. The funding will help MoneyHash further develop its platform and expand its reach in the Middle East and Africa.

Overall, MoneyHash’s innovative approach to payment orchestration has positioned it as a key player in the fintech industry, helping merchants in emerging markets overcome complex payment challenges and turn payments from a liability into a strategic advantage.

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