US-based Egyptian FinTech, MoneyHash, a leading integrated suite of payment products and the region’s first payment orchestration platform, has garnered attention with its recent investment news.
MoneyHash has successfully secured funding from Tom Preston-Werner, co-founder of GitHub, in a seed financing round whose amount remains undisclosed.
Established in late 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, MoneyHash provides businesses with the capability to craft a customised payment stack suited to their specific needs.
While the exact figures remain undisclosed, the infusion of funds from Tom Preston-Werner will further propel MoneyHash’s product development, enhancing their position in the FinTech landscape.
Tom Preston-Werner’s involvement with MoneyHash not only marks his first investment venture into the Middle East but also his second foray into the African market. Recognised for his groundbreaking contributions to the tech realm, notably as a founder of GitHub, Tom has consistently played a vital role in altering the course of tech development and collaboration. He has now channelled his expansive experience towards actively mentoring early-stage startups in crafting solutions for real-world issues.
MoneyHash CEO Nader Abdelrazik remarked, “I was quite impressed with the technical quality and product vision of MoneyHash, and the founder’s deep understanding of the payment landscape in Africa and the Middle East. This region is growing exponentially, and it is quite intuitive to bid on infrastructure products built by quality teams. Nader and his team attracted a fantastic group of tech talent, and I am excited to join their journey.”
On the partnership, Mustafa Eid said, “When we met with Tom, Mustafa and I were just big fans who wanted to get some feedback and guidance from an entrepreneur we admire. It was very surprising and exciting to know his interest in investing in us and being an active partner in our journey. His positive feedback on the quality of our tech and the product-driven approach is a great testament to the team and their efforts over the last couple of years.”
Earlier, in February 2022, MoneyHash had raised $3m in a pre-Seed funding round led by UAE venture capital firm COTU Ventures, among other investors.
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