The Growth of Payment Orchestration in Emerging Markets: MoneyHash’s Journey
When businesses venture into the online marketplace, they often begin by partnering with a couple of payment processors. However, as these businesses expand and tap into new regions, the need to onboard additional payment partners becomes a necessity. This expansion comes with its own set of challenges. Enter MoneyHash, an Egyptian fintech company that provides solutions for managing complex payment stacks across the Middle East and Africa. Recently, MoneyHash has announced a significant milestone, raising $5.2 million in pre-Series A funding to target larger enterprises.
An Expanding Fintech Landscape
This recent funding round comes about a year after MoneyHash secured $4.5 million in a seed round in February 2024. Since its inception in early 2021 by founders Nader Abdelrazik and Mustafa Eid, MoneyHash has raised over $12 million. The company operates in the domain of “payment orchestration,” an area gaining traction due to the fragmented nature of global payments.
“The opportunity to solve this is immense,” said CEO Abdelrazik. “In emerging markets, digital payments represent only a fraction of total transaction volume, suggesting massive growth potential in the coming decade.”
– Nader Abdelrazik
Understanding Payment Orchestration
In today’s digital world, businesses often find themselves dealing with multiple payment providers to manage transactions efficiently. This integration can be both operationally inefficient and technically daunting, particularly in regions like Africa and the Middle East where various payment methods and currencies prevail.
- MoneyHash simplifies these processes through APIs.
- It offers a unified API for pay-in and pay-out operations.
- Features include customizable checkout and advanced transaction routing.
- Supports recurring payments and subscription management.
By aggregating these complex payment processes, MoneyHash transforms them from bottlenecks into strategic advantages for businesses.
Targeting Emerging Markets
Unlike other payment orchestration platforms like Payrails, Spreedly, Zooz, and Primer focusing on U.S., U.K., and European markets, MoneyHash’s strength lies in its focus on emerging markets. Its vast integration network boasts over 300 pre-integrated APIs covering more than 100 markets.
Shifting Focus to Large Enterprises
Initially focused on small merchants, MoneyHash began targeting larger enterprises in early 2024 with the launch of its enterprise suite. This strategic move has allowed the company to scale significantly, now serving industries like consumer fintech, hospitality, e-commerce, and gaming.
“Without us, you can still do a lot of performance enhancements that will take years of work and studying… We’re not focusing on only one performance metric to try to fix all the problems across the entire payment chain life cycle,” remarked CEO Abdelrazik.
– Nader Abdelrazik
A Promising Future with New Funding
The recent pre-Series A funding round was led by Flourish Ventures with participation from investors such as Saudi’s Vision Ventures and Arab Bank’s Xelerate. Notably, Jason Gardner, former CEO of Marqeta also joined the round alongside existing investors like GitHub founder Tom Preston-Werner.
This influx of capital is expected to fuel further growth for MoneyHash as it continues to refine its offerings and expand its reach across emerging markets.
