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Michele Mattei Michele Mattei是领英影响力人物

Fintech expert | Manager | Investor | Advisor

MoneyHash secures a $4.5 million seed funding round. #MoneyHash, a pioneering payment orchestration platform in the Middle East and Africa region, has secured $4.5 million in seed funding. This strategic move was supported by a blend of seasoned and visionary investors, including COTU Ventures and Sukna Ventures, alongside RZM Investment, Dubai Future District Fund, VentureFriends, and numerous strategic investors and operators. Despite a backdrop of slowed market activities, MoneyHash's success in this funding round speaks volumes about the resilience and potential growth within the fintech sector, especially in regions ripe for digital transformation like the MENA. The company's proprietary payment orchestration platform and end-to-end payment operating system are at the forefront of addressing complex payment challenges, offering scalable and efficient payment infrastructures that businesses across the region can rely on. The MEA region presents a highly fragmented payment landscape, marked by a plethora of payment providers, evolving payment regulations, and varied customer preferences. This complexity is further exacerbated by high payment failure rates, which are three times the global average, and significantly higher fraud rates and cart abandonment. MoneyHash CEO, Nader Abdelrazik, highlighted the critical need for a robust infrastructure to support the burgeoning demand for digital payments, emphasizing the opportunity for merchants to leverage these challenges into significant growth by adopting MoneyHash's comprehensive solutions. Under the guidance of Chief Product Officer Elena Panchenko, MoneyHash offers an expansive suite of payment solutions. These include a unified API for integrating pay-in and pay-out rails, customizable checkout experiences, transaction routing capabilities, and a centralized transaction reporting hub. The platform is designed to significantly boost revenue generation by 10-20% and cut down development costs by 90%, showcasing the tangible benefits of their integrated payment solutions. Since its inception in early 2021 by Egyptian technologists Nader Abdelrazik and Mustafa Eid, MoneyHash has demonstrated remarkable growth. With a successful BETA launch attracting significant regional players and a recent enterprise suite launch, the company has shown impressive progress, including doubling its network of integrations, tripling its revenue, and growing its processing volume by 30x. The announce on #Moneyhash website in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W ? - Substack: https://lnkd.in/dzfGJzmW

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Michele Mattei

Fintech expert | Manager | Investor | Advisor

9 个月
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