This latest round of funding follows a $3 million pre-seed round in 2022 for the online payment orchestration company.
A US-based Egyptian fintech startup, MoneyHash, known for its leading payment orchestration platform in the Middle East and Africa (MEA), has secured $4.5 million in seed funding, with COTU Ventures and Sukna Ventures as co-leaders of the investment.
Established in late 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, the company provides comprehensive payment services aimed at addressing the diverse technological obstacles encountered by enterprise merchants throughout the region.
Nader Abdelrazik, Co-founder and CEO of MoneyHash, observes, “While COVID-19 has accelerated the adoption of digital payments in the region, the infrastructure remains considerably underdeveloped.” He highlights the immense opportunity, with less than 10% of MEA’s trillions of dollars in payments being digital, indicating substantial growth potential over the coming decade.
This latest funding round builds upon MoneyHash’s previous $3 million pre-seed round in 2022, reflecting sustained market confidence in the company’s efficient proprietary payment orchestration platform, despite a notable slowdown in overall market activity.
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