MoneyHash, the pioneering payment orchestration platform in the Middle East and Africa, has announced a successful $5.2m pre-A funding round.
The investment was spearheaded by Flourish Ventures, a renowned global FinTech investor with a portfolio including industry leaders like Chime and FlutterWave. This round also welcomed new investors such as Saudi’s Vision Ventures, Arab Bank Venture Capital, and Emurgo Kepple Ventures, with the round marking Jason Gardner, founder and former CEO of Marqeta, making his inaugural MEA investment. The financing also saw continued support from existing backers COTU, RZM Capital, and Github founder Tom Preston-Werner.
MoneyHash operates as a comprehensive payment orchestration platform, designed specifically to address the diverse and complex payment landscape of emerging markets. The platform is engineered to integrate seamlessly with existing payment providers, offering a unified API for both pay-in and pay-out operations, which helps optimize transaction routing and enhance fraud prevention.
The newly raised funds are earmarked for several strategic initiatives, including further technological advancements and regional expansion. With these investments, MoneyHash aims to solidify its presence in the MEA region and enhance its product offerings to better serve its customers.
Additional insights into the company’s strategy were provided, highlighting its commitment to improving payment infrastructures in emerging markets, which are often plagued by high failure rates and fraud risks. MoneyHash’s innovative solutions aim to transform these challenges into opportunities for growth and efficiency.
MoneyHash’s CEO and co-founder, Nader Abdelrazik, provided insight into their strategic vision. “Our platform not only tackles the existing inefficiencies but also equips merchants with the tools needed to transform payments into a strategic business advantage,” he said. This vision is further supported by their remarkable growth trajectory, underscored by a rapid progression to a pre-A funding round just 12 months after a $4.5m seed round in early 2024, which facilitated technological advancements and regional expansions.
Previously, the company had raised a total of $7.5m through two investment rounds, underscoring its potential and promising future.
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