Founded in 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash offers a proprietary payment orchestration platform and an end-to-end payment operating system.

The company’s beta launch in 2022 attracted key regional clients, including Foodics, Rain, and Tamatem.

Building on this momentum, the startup unveiled its enterprise suite in October 2023 to cater to large-scale businesses.

This latest funding round, led by Flourish Ventures, included participation from notable investors such as Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures.

The round also drew the involvement of industry veterans like Jason Gardner, founder and former CEO of Marqeta, as well as returning investors COTU, RZM Investment, and GitHub founder Tom Preston-Werner.

“Strengthening our capital table capabilities is as crucial as enhancing our business and product offerings,” said Abdelrazik.

“Our early strategy of partnering with strong regional investors has paved the way for market penetration. Now, with Flourish Ventures on board, we are building a foundation for global expansion.”

Flourish Ventures’ venture partner, Ameya Upadhyay, will join MoneyHash’s board of directors.

“MoneyHash has created a must-have product that enhances payment performance and margins from the outset. With a vast opportunity in emerging markets, the team’s experience and customer-centric approach position them as a future leader in the sector,” he said.

This funding milestone comes less than a year after MoneyHash raised $4.5 million in seed funding, demonstrating its rapid growth and increasing appeal among investors.