US Fintech MoneyHash Targets Saudi Arabia’s Booming Market
US fintech MoneyHash, founded in 2020, plans to expand into Saudi Arabia following a $4.5 million seed funding round. The company aims to tackle payment sector challenges in the Kingdom and help businesses recover lost revenue. Already serving customers like Foodics, MoneyHash plans to build a solution hub and dedicated team in Saudi Arabia.
MoneyHash, a US-based startup founded in late 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, is keen on expanding into Saudi Arabia.
Following a successful $4.5 million seed funding round in February, MoneyHash aims to tackle payment sector challenges in the Kingdom, helping businesses recover lost revenue and reduce payment failures.
The startup employs a hybrid business model combining fixed fees with transaction-based charges, which is tailored to customer usage and product selection.
CEO Nader Abdelrazik revealed that MoneyHash already has active customers in Saudi Arabia, including Foodics, and plans to build a solution hub and a dedicated team in the region.
The company's long-term vision involves establishing a comprehensive ecosystem of payment tech solutions.
With $7.5 million raised to date, MoneyHash is also looking forward to more partnerships and collaborations to enhance talent development and business maturity in Saudi Arabia.