MoneyHash, a groundbreaking payment orchestration platform focused on the Middle East and Africa (MEA), has announced the successful closure of a $5.2 million pre-Series A funding round. The new investment underscores the company’s growing influence in the region’s fintech ecosystem and its commitment to streamlining payment processes for businesses across MEA.
Flourish Ventures, a prominent global fintech investor renowned for backing market leaders like Flutterwave and Chime, spearheaded the funding round. Flourish Ventures’ involvement signals strong confidence in MoneyHash’s vision and growth potential, adding it to a portfolio of over 100 innovative fintech startups worldwide.
Additional key investors included:
- Vision Ventures, a Saudi-based venture capital firm with a track record of supporting disruptive startups.
- Arab Bank’s Xelerate program, which focuses on fostering fintech innovation in the Arab world.
- Emurgo Kepple Ventures, a global venture fund with investments in emerging markets.
Notably, Jason Gardner, the founder and former CEO of Marqeta—a global leader in modern card issuance—made his first investment in the MEA region through this funding round. Gardner’s involvement highlights MoneyHash’s potential to attract seasoned fintech veterans to support its mission.
Continued Support from Existing Investors
The round also saw strong backing from MoneyHash’s existing investors, including:
- COTU Ventures, known for nurturing early-stage startups in the MEA region.
- RZM Investment, a firm with a strategic focus on scalable tech solutions.
- Tom Preston-Werner, founder of GitHub, who has been a consistent supporter of MoneyHash’s journey.
The renewed commitments from existing investors demonstrate sustained confidence in the company’s innovative solutions and its ability to deliver value across diverse markets.
Transforming Payment Ecosystems in MEA
Since its inception, MoneyHash has been on a mission to simplify complex payment ecosystems for businesses operating in MEA. By offering a unified platform for payment processing, subscription management, and financial reconciliation, the company addresses the fragmented nature of the region’s payment landscape.
The funding will enable MoneyHash to:
- Expand its reach across MEA: Increasing its footprint in untapped markets to empower more businesses with seamless payment orchestration tools.
- Accelerate product development: Enhancing its platform capabilities to provide businesses with greater efficiency, security, and insights into their payment operations.
- Bolster partnerships: Strengthening relationships with local and international payment service providers, banks, and fintechs to build a robust ecosystem.
Read also: MoneyHash teams up with Visa to enhance customer experience in Egypt.
Investor Confidence in MoneyHash’s Vision
Commenting on the funding, Flourish Ventures’ leadership expressed enthusiasm about MoneyHash’s ability to address key challenges in MEA’s fintech landscape, citing the platform’s potential to drive financial inclusion and efficiency.
Jason Gardner highlighted the strategic importance of investing in a platform like MoneyHash, which is pioneering a much-needed solution in one of the world’s most dynamic and high-growth regions.
A Bright Future for MEA Fintech
With this funding, MoneyHash is poised to lead the transformation of payment orchestration in MEA, delivering solutions that cater to the unique needs of businesses across diverse industries. The company’s success is a testament to the growing maturity of the region’s fintech ecosystem and its ability to attract global investors and thought leaders.
This milestone marks a significant step forward in MoneyHash’s journey to redefine how businesses in MEA manage and optimize their payments, paving the way for broader financial innovation across the region.
