MoneyHash Raises $4.5 Million for MEA Payment Tech Expansion

MoneyHash Raises $4.5 Million for MEA Payment Tech Expansion

By Staff Writer, 29 February 2024

Egypt-based fintech startup, MoneyHash, has recently announced a significant milestone in its journey, securing seed funding totaling $4.5 million.

This boost in investment is earmarked for advancing its payment technology infrastructure and accelerating its growth trajectory across the Middle East and Africa (MEA) region.

The funding round, spearheaded by COTU Ventures and Sukna Ventures, saw active participation from prominent investors including RZM Investment, Dubai Future District Fund, VentureFriends, and notable individual backers like Tom Preston-Werner, the esteemed founder of GitHub and investor in Stripe.

Other strategic investors and operators also joined in on the funding initiative.

MoneyHash: Revolutionizing Payment Integration

In today's digital landscape, merchants and businesses often grapple with the complexity of integrating multiple payment providers to streamline their operations.

This challenge becomes particularly pronounced in the MEA region due to varying currencies, diverse payment methods, and geopolitical intricacies.

MoneyHash, however, positions itself as a solution to these challenges through its innovative unified-API system.

This technology empowers merchants and companies to seamlessly integrate diverse payment channels for both inbound and outbound transactions.

Moreover, it enables customization of the checkout process, simplifies transaction routing, and centralizes transaction reporting.

Beyond its core offerings, MoneyHash extends its capabilities with additional tools tailored to meet the evolving needs of businesses.

These include virtual wallet functionalities, subscription management tools, and personalized payment link generation, providing a comprehensive suite of fintech solutions.

With this recent infusion of capital, MoneyHash is poised to reinforce its position as a frontrunner in the MEA fintech landscape, offering businesses streamlined payment solutions tailored to the region's unique requirements.

Source: Tapiwa Matthew Mutisi / Innovation Village

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