MoneyHash, an Egyptian US-based fintech startup that uses a universal API and a unified checkout experience to help businesses consolidate and grow their payments and financial tech stack across Africa and the Middle East, closes a six-figure pre-seed round to launch its services across the region. The round was led by UAE’s venture capital firm COTU Ventures, with participation from the Ventures Platform, Kepple Africa Ventures, and angel investors.

MoneyHash was founded in late 2020 by its three co-founders: Nader Abdelrazik, Mustafa Eid, and Anisha Sekar. Combined, they have over 30 years of experience and have worked for 11 startups, in addition to a portfolio of employers and education such as Microsoft, UpWork, NerdWallet, UC Berkeley, SigFig, and Brown University.

“MEA is one of the fastest growing emerging markets with a rapidly evolving payment and fintech scene. As many companies in the region and abroad plan their expansion across the region, they are faced with a devastating technical and operational hassle: building a separate connection with each service provider while providing a unified experience for their customers. This results in a complicated tech stack wasting valuable resources with increased vulnerabilities to errors, fraud, and technical debt. MoneyHash’s technology abstracts the complexities of this fragmented market and allow businesses to scale and grow with a complete focus on their product, and without compromising security and efficiency,” said Nader Abdelrazik, co-founder and CEO of MoneyHash.
The startup provides a unified checkout experience built on top of a secure Super-API that aggregates payment and fintech solutions through a single integration and a central dashboard consolidating technical infrastructure and centralizing data and operational reporting.

MoneyHash is currently in a private beta with plans to go live soon in Egypt, Saudi Arabia, and UAE. The startup aims to be fully operational across various countries in Africa and the Middle East by 2022.