RIYADH: Egyptian fintech MoneyHash raised $3 million in a pre-seed funding round led by venture capital firm COTU Ventures as well as VentureSouq and VentureFriends.

MoneyHash said it plans to become the first super-API for payment orchestration and revenue operations in the Middle East and Africa.

Its plan is to empower businesses in these markets to streamline their payments and optimize operations, Magnitt reported.

The company has been running beta testing since 2021, with 17 companies using their tools.

This round is an extension on an undisclosed six-figure sum raised in 2021.

Copyright: Arab News © 2022 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.