MoneyHash, the FinTech startup from Cairo, has raised an undisclosed amount in a pre-seed round led by Amir Farha’s COTU Ventures. Other investors to have chipped in with sizable amounts include Keep Africa Ventures and several angel investors.
MoneyHash was founded in 2020 by co-founders Nader Abdelrazik, Anisha Sekar, and Mustafa Eid. The company has since been busy developing a super API to efficiently aggregate payments and FinTech solutions. The idea behind this project is to enable merchants to facilitate a unified checkout experience to all their customers. Deploying this super API will also provide merchants the access to all data and reports from a central dashboard.
MoneyHash is currently testing its services in a private beta and if everything goes as per plan, it will soon launch services publicly in Egypt, the UAE, and Saudi Arabia. From there, the company plans on expanding to several other markets in the MENA region by the end of 2022.
As for pricing, the startup plans on charging merchants with a subscription fee, alongside a small microtransaction fee. MoneyHash says that it is still experimenting with multiple different combinations and will have more tangible details soon to share publicly.
