Money Fellows, a Cairo-based fintech company, has announced the successful raise of $13 million in a pre-Series C funding round, bringing its total funding to over $60 million since its founding in 2017.
The round was led by Al Mada Ventures (Casablanca, Morocco) and DPI through the Nclude Fund, with participation from top international investors including Partech and CommerzVentures.
This funding will enable Money Fellows to enhance its digital platform and accelerate its regional expansion beyond Egypt. The company currently serves over 8.5 million users and collaborates with more than 350 local and regional partners.
Money Fellows digitizes the traditional rotating savings and credit associations (ROSCAs), locally known in Egypt as “gam’eya”, which are widely used across emerging markets for informal savings.
Ahmed Wadi, Founder and CEO of Money Fellows, stated:
“We believe innovation is the future of finance in Africa. Achieving profitability without relying on working capital is, in itself, highly disruptive.”
Omar Laalaaj, Managing Director at Al Mada Ventures, added:
“We’re committed to supporting ambitious companies like Money Fellows that can create meaningful impact, especially in markets like Morocco, where digital finance adoption is accelerating.”
The round also included key contributors and representatives from the participating funds and firms, such as Mukami Wainaina, Mohamed Aladdin, Ashley Lewis, Yomon AlMallah, Cyril Collon, Isabelle Tresson, and Patrick Meisberger, who expressed strong confidence in Money Fellows’ mission and model
Since its launch in 2017, Money Fellows has supported over 250,000 active users and facilitated more than $50 million in investments through its mobile application.
