Egyptian fintech MoneyHash raises $5.2 million Pre-Series A from Flourish Ventures
MoneyHash, an Egyptian fintech startup that provides APIs to help businesses in Africa and the Middle East manage their online payments on a single platform, has raised $5.2 million in a pre-Series A funding round. MoneyHash will use the funding to to deepen its presence in the Middle East and North Africa (MEA) region and expand into other markets.
The funding round was led by Flourish Ventures and saw participation from Saudi’s Vision Ventures, Arab Bank’s Xelerate Fund, and Emurgo Kepple Ventures. Angel investor, Jason Gardner, the founder and former CEO of Marqeta, also invested in the round, alongside existing investors like COTU, RZM Investment, and Tom Preston-Werner.
The new fundraise brings the total fund raise to about $12.7 million. The startup raised $4.5 million in seed investment in 2024 and a $3 million pre-seed in 2022.
Read more: https://techcabal.com/2025/01/21/egyptian-fintech-moneyhash-raises-5-2-million/
Fintech in Tunisia: Some progress overshadowed by many challenges
In 2024, Tunisia has emerged as a key player in the fintech sector in the Middle East and Africa, positioning itself as a cultural and technological bridge between the Francophone, Arab and African regions.
The country, which straddles the French-speaking, Arab-North African and African cultures, has the potential to act as a bridge between these different regions of the Middle East and Africa, The FintechTimes believes.
Despite facing a number of challenges, from economic to political and security issues, the country has made strides in its technological landscape and remains relatively stable and developed compared to its peers.
M-Pesa to integrate with PesaLink, driving growth and financial interoperability in Kenya
- In a move set to redefine Kenya’s digital payments landscape, M-Pesa is integrating with PesaLink, a platform that facilitates real-time interbank transactions.
- The integration is set to improve interoperability within Kenya’s financial ecosystem, allowing seamless transactions across different financial platforms.
- By partnering with M-Pesa, PesaLink stands to significantly increase its user base, tapping into M-Pesa’s extensive customer network.
This proposal, submitted jointly by Safaricom and the Kenya Bankers Association (KBA) to the Central Bank of Kenya (CBK), seeks to integrate M-Pesa, Kenya’s leading mobile money platform, into the national interbank payment system, PesaLink.
Read more: https://techpoint.africa/2025/01/21/mpesa-integrate-pesalink/
UK paytech myPOS expands footprint in France with Toporder acquisition
UK-based paytech myPOS has made its first acquisition, snapping up French cash register firm Toporder for an undisclosed sum.
Founded in 2019, Toporder provides a cash register system to over 700 clients across France, combining tools such as customer database management, accounting, inventory management, and statistical analysis.
myPOS says the acquisition will enable the company to expand its presence in the French “retail, food and beverage sectors by providing integrated payment and cash register solutions tailored to streamline operations, improve efficiency and drive growth”.
PalmPay eyes remittances as it mulls Asia Expansion
PalmPay, a Nigerian fintech with over 30 million users and $6 billion in monthly transaction volume, is considering venturing into the lucrative remittance market as part of its ambitious expansion plans into Asia.
The company has set its sights on the Middle East and Southeast Asia in 2025. While specific details remain under wraps, Managing Director Chika Nwosu confirmed that remittance services are being explored as part of the company’s strategic roadmap.
“We are moving to the Middle East and Southeast Asia and will also expand into other African countries,” Nwosu said during a Q&A session at a media roundtable organised by the fintech last week. “We are conducting research and developing business strategies. Wherever we see opportunities, we will go there.”
Read more: https://thecondia.com/palmpay-eyes-remittances-as-it-mulls-asia-expansion/
XPP and Oxivo to drive public ttransport payments in Turkey
Together, they will introduce a new, revolutionary seamless payment service to the Turkish market that will fundamentally change how public transport payments are processed and experienced. This payment platform is an innovation, relevant to many European public transport providers.
The first project that is taken on by XPP and Oxivo in this strategic alliance will combine XPP’s innovative payment services, based on the Vayapay and Ginger platforms, with Oxivo’s deep market expertise and established presence in Turkey.
“This partnership is a significant milestone in our development,” said Tom van der Poel, CEO at XPP. “Together, we are very strongly positioned to bring transactions in Turkey’s public transport to the next level and will develop an infrastructure that multiple public transport companies in Europe will be able to benefit from.”
4 Critical issues the payments industry must solve in 2025
The payments industry enters 2025 with a host of challenges that will shape its future, as outlined by the Electronic Transactions Association (ETA), for the payments industry. With over $47 trillion processed annually in purchases and peer-to-peer payments, the stakes couldn’t be higher. From harnessing AI to enhancing privacy, these issues demand immediate attention.
Read more: https://ibsintelligence.com/ibsi-news/4-critical-issues-the-payments-industry-must-solve-in-2025/
