MoneyHash, a leading payment orchestration platform focused on the Middle East and Africa (MEA), has successfully raised $5.2 million in a pre-Series A funding round led by Flourish Ventures.

The investment round also included participation from Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures, along with notable industry figures such as Marqeta founder Jason Gardner. Existing investors COTU, RZM Investment, and GitHub founder Tom Preston-Werner also reinvested, demonstrating continued confidence in MoneyHash’s growth trajectory.

Launched in 2021, MoneyHash is tackling the fragmented payment landscape in emerging markets, where businesses face challenges such as high failure rates, regulatory complexity, and transaction inefficiencies.

“In emerging markets, payment infrastructure is significantly underdeveloped, leading to failure rates three times the global average and fraud rates over 20% higher than in developed economies,” said Nader Abdelrazik, co-founder and CEO of MoneyHash.

To address these inefficiencies, MoneyHash offers an all-in-one payment API, enabling businesses to streamline transactions, improve success rates, and enhance overall payment performance. Its solutions include a pay-in and pay-out API, a customizable checkout widget, and intelligent transaction routing across multiple service providers. Currently, MoneyHash integrates with over 300 payment providers and methods across 100+ markets.

Maram Alikaj, COO of MoneyHash, emphasized the platform’s tailored approach to solving payment challenges in emerging markets:
“Rather than forcing merchants to navigate fragmented solutions, we provide a unified suite that optimizes all key payment performance metrics.”

The company has seen rapid adoption, particularly among large enterprises, with clients including fintech unicorn Tamara, cloud kitchen leader Kitopi, and e-commerce giant Brands for Less. Enterprise clients now account for over 35% of MoneyHash’s portfolio, driving a 4x increase in processing volume in 2024.

Flourish Ventures’ Ameya Upadhyay, who is set to join MoneyHash’s Board of Directors, praised the company’s potential:
“MoneyHash has built an essential product for enterprises, delivering better payment performance and higher margins from day one. With deep payment expertise and a customer-centric approach, the company is well-positioned to lead the payment orchestration space across emerging markets, starting with MEA.”

With this latest funding, MoneyHash has now raised a total of $12.7 million, reinforcing its mission to future-proof digital payments and enable seamless financial transactions across emerging economies.