Egyptian fintech startup MoneyHash secures a significant investment of $4.5 million. Co-led by COTU Ventures and Sukna Ventures, with participation from notable investors including Dubai Future District Fund, RZM Investment, and VentureFriends, the seed funding round marks a pivotal moment for the burgeoning fintech firm.
“This funding will enable MoneyHash to further invest in its technology and expand its business growth initiatives across the region,” the company stated. The infusion of capital will not only elevate MoneyHash’s technological capabilities but also facilitate the expansion of its business team, reinforcing its commitment to driving innovation in payment technology.
Established in 2021 and headquartered in New York, MoneyHash boasts a global presence with 30 team members spanning nine countries. The company specializes in providing streamlined payment solutions for merchants, offering a range of products designed to optimize payment processes and enhance transaction efficiency.
Among its offerings is a unified API for seamless integration of pay-in and pay-out rails, a customizable checkout experience tailored to individual merchant needs, and robust transaction routing capabilities equipped with fraud and failure rate optimizers. Additionally, MoneyHash provides a centralized transaction reporting hub, empowering merchants with valuable insights into their payment activity.
Having previously raised $3 million in a pre-seed round in 2022, MoneyHash has demonstrated remarkable growth and momentum in a relatively short span of time. In 2023 alone, the company achieved significant milestones, doubling its network integrations, tripling its revenue, and expanding its processing volume by an impressive 30 times.
