Egyptian fintech, MoneyHash, is expanding to several countries in Sub-Saharan Africa following its launching in the Middle East and North Africa (MENA) region in early 2022.
The startup, which raised $3 million in seed funding in February 2022, describes itself as the Middle East and Africa’s ‘first super-API for payment orchestration and revenue operations.’
MoneyHash provides a unified checkout experience built on top of a secure super-API that aggregates payment and fintech solutions through a single integration as well as a central dashboard consolidating technical infrastructure and centralizing data and operational reporting.
Early in 2021, MoneyHash began operations in Egypt, allowing 17 companies to use its sandbox environment to connect with its API and access payments gateways such as Fawry, Paymob, and PayTabs.
So far the super API has integrations with over 90 providers including:
- Stripe
- Stitch
- Mastercard
- Visa
- Monnify
- Fawry
As part of its expansion, the platform is set to add more providers with several countries targeted including:
- Nigeria
- Kenya, and
- South Africa
According to Co-Founder, Nader Abdelrazik:
“MoneyHash emerged as an operating system of payments to help businesses gain control and navigate the complexity of payments smoothly without hefty engineering and operational time and costs with every incremental decision.”
When clients embed MoneyHash’s payments system, they will have access to a unified checkout system supporting a network of providers with packages that start at $20 monthly.
In addition, clients get transaction routing, subscription management, and invoicing on the platform.
Nader Abdelrazik:
What AWS did to the cloud, where it made it easy for companies to build as many services on top of the infrastructure, we think the payment industry, especially in emerging markets, is very fragmented and needs an AWS for money, which MoneyHash is doing when you connect with it and build as much as you need without needing to change anything.
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