MoneyHash, a payment orchestration platform operating in the Middle East and Africa, has raised $5.2 million in pre-A funding led by Flourish Ventures.

This round was also joined by Vision Ventures, Arab Bank Venture Capital, and Emurgo Kepple Ventures. Jason Gardner, founder and former CEO of Marqeta, also joined as an investor.

Existing backers, including COTU, RZM Capital, and Tom Preston-Werner, continued their support. This follows a US$4.5 million seed round earlier in 2024.

“The payment infrastructure in emerging markets remains underdeveloped, with failure rates three times the global average and fraud rates over 20% higher. Digital payments account for only a fraction of total transactions, underscoring immense growth potential. We’ve built MoneyHash to turn these challenges into opportunities, helping merchants transform payments from a liability into a strategic advantage,”

said Nader Abdelrazik, CEO of MoneyHash.

Ameya Upadhyay will be joining MoneyHash’s board of directors.

MoneyHash provides a unified API for pay-in and pay-out operations, customisable checkout experiences, advanced fraud prevention, transaction routing, and reporting tools.

It also includes features like recurring payments, virtual wallets, and subscription management.

MoneyHash, with its headquarters in New York City and a diverse workforce of 30 professionals distributed across nine countries, has previously secured $7.5 million in total funding through two previous investment rounds.

The newly acquired capital will be strategically deployed to accelerate MoneyHash’s market penetration in the MEA region while laying the groundwork for strategic expansion into additional emerging markets.

Featured image: Pictured from left to right – Maram Alikaj, COO; Mustafa Eid, CTO; Nader Abdelrazik, CEO; and Elena Panchenko, CPO of MoneyHash