• MoneyHash

  Participated · Seed · Feb 2022

  MoneyHash builds a payment-orchestration platform that aggregates payment providers via a unified API to simplify pay-in/pay-out, customizable checkout, transaction routing, fraud prevention, failure-rate optimization and reporting. The company also supports recurring payments, virtual wallets, subscription management and payment links, and says it has 300+ pre-integrated APIs covering 100+ markets with partners such as Adyen, Amazon Pay, Checkout, Fawry, Mono, Stripe, Tabby and ValU. Founded in early 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash initially targeted small merchants and in early 2024 launched an enterprise suite to pursue larger enterprises. Enterprises now account for 35% of its customers (a threefold increase in 2024), and the company reports a 4x increase in processing volume and a 3x revenue increase over the past year. Management says the product helps clients improve authorization, conversion and fraud metrics and reduce go-to-market and development costs. The company is scaling commercially across the Middle East and Africa and positioning payments as a strategic advantage for merchants in emerging markets. MoneyHash offers a unified payment orchestration platform with a single API that integrates pay-in and pay-out rails, a fully customizable checkout, transaction routing with fraud and failure optimizers, and a centralized reporting hub. Its product suite also supports virtual wallets, subscription management and payment links to address fragmented payment methods across MEA markets. After a beta in 2022 and an enterprise suite launch last October, the company says it has tripled revenue and grown processing volume by 3,000% over the past year. MoneyHash currently serves 50 active paying customers and hosts over 100 sandbox users in assessment. The platform charges a combination of SaaS and transaction fees starting at $500 plus 0.4%, with SaaS fees rising and transaction fees declining for larger enterprises. The company plans to use the new capital to further invest in its technology and expand growth across the region while deepening integrations with payment service providers. MoneyHash provides a unified “super-API” that sits on top of local and global payment providers to simplify integrations, checkout experiences, transaction routing, subscription management and invoicing. The product targets merchants operating across African and Middle Eastern markets, where payment methods, currencies and integrations are fragmented. The company emerged from beta after onboarding 17 companies to its sandbox, of which five are active, paying customers; pricing ranges from $150–$1,000 per month plus transaction fees starting at $0.10. MoneyHash was founded in late 2020 by Nader Abdelrazik, Mustafa Eid and Anisha Sekar, who together have over 30 years of experience at firms including Microsoft, UpWork, NerdWallet and Sigfig. The team of about 15 spans the U.S., Egypt, the UAE, Nigeria and parts of Europe. MoneyHash plans to expand integrations across the Middle East, North Africa and later sub-Saharan Africa, hire mid- and senior-level engineers, and use the new funding to accelerate regional growth.

• MVX

  Participated · Seed · Aug 2021

  MVX operates a digital freight booking platform that lets cargo owners find and book trucking, warehousing, shipping, and cargo stuffing services, charging commissions on transactions. The company merged its MVXtransit booking product and MVXpay trade-finance/payments solution into a single MVX platform to streamline freight and trade finance workflows. MVX aims to make cross-border shipping and trade finance easier for African merchants and has expanded beyond Nigeria to serve users in Kenya, South Africa, Ghana and Rwanda. The startup has recorded more than 300 shipments year-to-date and plans to reach 1,500 by year-end, and CEO Tonye Membere-Otaji says the company has surpassed its 2020 numbers. MVX plans to use the new capital to scale operations, hire staff and improve its technology, while also pursuing additional capital—most likely debt—to underwrite its trade financing product. MVX (Motor Vessel Xchange) operates an on-demand B2B maritime marketplace that matches vessel charter requests to available offshore support vessels, primarily serving oil-producing African countries. The startup says it has reduced the time to find a vessel from weeks to minutes. MVX was founded last year by Tonye Membere-Otaji and is based in Lagos. The company will use its recent funding to scale its platform technology and to acquire more enterprise users. MVX focuses on increasing vessel utilisation and reducing inefficiencies in offshore support vessel chartering across African waters.

• Lami

  Participated · Seed · May 2021

  Lami Technologies builds an end-to-end digital insurance platform and a product-agnostic API that lets banks, e-commerce and logistics firms embed and distribute tailored insurance products. The company entered the market in January 2020 with a consumer-facing product (Griffin) before pivoting to its B2B2C API platform. Its API is integrated with more than 15 entities across logistics, e-commerce, banking and fintech and it works with 25 underwriting partners; notable clients include Lipa Later, Sendy, Kwara, Jumia, MarketForce and Stanbic Bank Insurance. Lami is pursuing digitization of agents and brokers, expanding product lines, and has expanded into Egypt and Nigeria while entering Malawi and the DRC through the acquisition of Bluewave. Operational metrics show policy volume grew to 85,000 from 70,000 at the end of 2021, and premiums underwritten quadrupled to $800,000 last year with a projection to exceed $2 million this year. The company says it will use funding to hire, fast-track expansion and drive underwriter partnerships; it also appointed longtime CFO Roy Perlot as a co-founder. Lami Technologies offers an API-driven B2B2C platform that lets banks, startups and other businesses embed, customize and distribute insurance products to end users. The company co-designs products with underwriting partners and runs an insurance marketplace, integrating with partners such as Stanbic Bank, HR platform WorkPay and e-commerce platform Jumia. Lami supports more than 25 active underwriters (including Britam, Pioneer and Madison Insurance) and distributes over 30 product types across motor, medical, employee benefits and device insurance. Since founding in 2018, the startup has sold more than 5,000 policies and reduced claims processing timelines from roughly 90 days to about a week. Lami’s product lets partners quote, customize benefits, adjust premiums, issue policy documents and access claims via the API. The company plans to use its new funding to hire, improve its technology and expand its presence across Africa.

No current team members are available.