MoneyHash raise Large merchants, particularly those that operate in more than one geography, have to support an array of payments methods. Each payment integration requires in-house technical work and the remodeling of one’s platform to fit their plugins.
It’s an extensive process that has seen some Big Tech companies build dedicated teams to manage different connections, data and cycles with the payments gateways in the markets where they are present.
In the U.S., U.K. and Europe, payment orchestration platforms such as Spreedly, Zooz and Primer handle a lot of the heavy lifting on behalf of merchants via a unified payments API. But there remains an untapped opportunity in Africa and the Middle East, where significantly few companies bring transparency to merchants’ payment stacks.
Egypt and U.S.-based MoneyHash is one such company, emerging from beta with $3 million in pre-seed funding. The company describes itself as the Middle East and Africa’s “first super-API for payment orchestration and revenue operations.”
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The pre-seed round is an extension of an undisclosed six-figure raise MoneyHash announced last June from investors Ventures Platform, Kepple Africa Ventures, LoftyInc Capital, and lead COTU Ventures. The Middle Eastern early-stage fund also led this extension, with participation from previous backers in the initial pre-seed round and others like VentureSouq, VentureFriends, The Continent Venture Partners, Nuwa Capital and First Check Africa. Angel investors include NerdWallet’s Tim Chen, Jake Gibson and Belvo’s Oriol Tintore.
When merchants