
Egypt’s MoneyHash Secures $5.2 Million Pre-Series A Funding for Global Expansion
MoneyHash, a leading payment orchestration platform in the Middle East and Africa (MEA), has raised $5.2 million in pre-Series A funding.
Grinta, a growing healthcare and pharmaceutical company, has taken a major step forward by acquiring Citi Clinic, one of Egypt’s most well-known primary healthcare chains.
The move gives Grinta access to over 150,000 patients and marks its official entry into the healthcare services sector.
Alongside the acquisition, Grinta also secured new strategic funding in a round led by Beltone Venture Capital and Raed Ventures. The amount of the investment was not disclosed.
Mohamed Azab, Co-founder and CEO of Grinta, described the acquisition as a key milestone for the company:
“This is a game-changing moment for Grinta. It allows us to combine both offline and online services, improving how people access and experience healthcare,” he said.
The company’s shift into the care sector follows a global trend where pharmaceutical distributors are expanding into direct-to-consumer healthcare.
Big names like McKesson and Walgreens have already adopted similar approaches by using their supply chain strengths to offer healthcare services to end-users.
Grinta aims to follow the same path by expanding its services throughout Egypt and East Africa.
As part of this strategy, Grinta has exited its B2B retail pharmaceutical distribution business in Egypt to fully focus on providing care services.
Ali Mokhtar, Managing Director at Beltone Venture Capital, welcomed the move, saying:
“We are proud to support Grinta as they shape the future of healthcare in the region. Their shift to primary care reflects strong market insight and leadership.”
Wael Nafee, General Partner at Raed Ventures, also praised Grinta’s direction:
“We’re excited to back Grinta once again. Their innovative approach and new expansion plans show great promise for improving healthcare delivery in emerging markets,” he said.
The company is working with Egyptian pharmaceutical manufacturers to export products and form new partnerships in the region. It is also developing a pharmacy chain in Tanzania through a buy-and-build strategy.
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MoneyHash, a leading payment orchestration platform in the Middle East and Africa (MEA), has raised $5.2 million in pre-Series A funding.
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