MoneyHash, the first and leading payment orchestration platform operating in the Middle East and Africa (MEA), has secured $5.2M in pre-A funding. Flourish Ventures – a global fintech investor behind industry leaders like Chime, Flutterwave, FairMoney, and Neon – led the round, adding to its portfolio of over 100 fintech startups. Additional investors include Saudi’s Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures. The round features the participation of Jason Gardner, founder and former CEO of Marqeta, as his first MEA investment. The round also saw continued support from existing investors COTU, RZM Investment, and Github founder Tom Preston-Werner.
Building on its momentum, MoneyHash previously secured a $4.5M seed round in early 2024, which fueled technological advancements and regional expansion initiatives. The swift progression to this pre-A round within 12 months underscores the company’s exceptional growth trajectory, validated by its successful partnerships with prominent brands and remarkable performance metrics across both regional and global markets.
The payments landscape in emerging markets is plagued with poor performance metrics and operational challenges. Each market has its own complex web of payment providers, methods, and regulations, with limited standardization or integration between regions. This fragmentation results in high operational costs, revenue leakage, and limited ability to scale across markets.
“In emerging markets, payment infrastructure remains significantly underdeveloped, with failure rates three times the global average and fraud rates and cart abandonment over 20% higher than developed markets. Drawing from our extensive experience in MEA, one of the most challenging regions globally, we’ve seen firsthand how these issues transform payments from a growth enabler into a cost and risk center,” says Nader Abdelrazik, co-founder and CEO of MoneyHash.
Abdelrazik adds, “The opportunity to solve this is immense. In emerging markets, digital payments represent only a fraction of total transaction volume, suggesting massive growth potential in the coming decade. We’ve built MoneyHash specifically to help merchants overcome these complex challenges and turn payments from a liability into a strategic advantage.”
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