Addressing Payment Challenges in MENA

In a region marked by diverse payment landscapes and evolving regulations, MoneyHash has secured a significant investment of $4.5 million for its payment orchestration platform tailored for merchants in the Middle East and North Africa (MENA). Despite the surge in digital payments during the COVID-19 pandemic, the region continues to grapple with issues such as payment fraud, low checkout conversions, and high transaction failure rates due to fragmented payment ecosystems.

Fueling Regional Growth

MoneyHash's CEO, Nader Abdelrazik, emphasizes the company's unique position in a market where 10% of all payments are digital. With a focus on enhancing technology and driving regional expansion, the investment builds upon the $3.5 million pre-seed funding secured two years ago.

Streamlining Payments with Technology

MoneyHash's payment orchestration platform offers a range of solutions to streamline payment processes for merchants. Through unified payment APIs, customizable checkout experiences, and transaction optimization features, MoneyHash aims to empower merchants to navigate the complexities of the payments landscape efficiently.

Collaboration for Merchant Growth

Abdelrazik highlights the collaborative efforts with merchants over the past four years, recognizing the varying payment failure rates across the region. MoneyHash's approach involves strengthening partnerships with payment service providers (PSPs) to ensure seamless integration and customization, particularly for enterprises with unique requirements.

Driving Enterprise Adoption

Following a successful Beta launch in 2022, MoneyHash introduced its enterprise suite targeting large enterprises last October. The fintech has witnessed significant growth, expanding its network of integrations and increasing revenue and processing volume substantially.

Investment and Future Prospects

The seed round, co-led by COTU Ventures and Sukna Ventures, reflects confidence in MoneyHash's potential to catalyze digital payments' growth in MEA. With strategic investors onboard and a focus on innovation and expertise, MoneyHash aims to enable global and local merchants to tap into new revenue streams and navigate the evolving payments landscape effectively.