Egyptian fintech startup Money Fellows has announced the successful close of a $13 million funding round, bringing its total capital raised to over $60 million since its launch. The round was co-led by Al Mada Ventures (AMV) and DPI Venture Capital through the Nclude Fund, with strong follow-on participation from existing investors Partech and CommerzVentures.
Founded in 2016, Money Fellows is a pioneering digital platform that reimagines the traditional concept of rotating savings and credit associations (ROSCAs), locally known as “Gameya” in Egypt and other Arab-speaking countries. By digitising these culturally entrenched financial systems, the platform offers users a streamlined, secure, and socially embedded alternative to formal banking—empowering them to manage savings, access credit, and plan their finances more efficiently.
Unlike conventional lending systems, ROSCAs operate through trust and community. Money Fellows has digitised this mechanism while integrating data analytics, credit scoring, and identity verification, thereby enhancing transparency, reducing risk, and enabling millions of users—especially those underserved by traditional banks—to participate in structured financial planning.
With a growing user base exceeding 8.5 million people, and partnerships with more than 350 local and regional businesses, Money Fellows is scaling rapidly. The latest funding will be used to enhance its product offerings, invest in technology infrastructure, improve user experience, and fuel geographic expansion across Africa and potentially the wider MENA region. The company is also set to deepen its impact by supporting more use cases such as short-term lending, micro-investments, and insurance integration.
“This new capital injection reflects the strong belief our investors have in our business model and the impact we are creating in advancing financial inclusion,” said Ahmed Wadi, Founder and CEO of Money Fellows. “We are combining ancient communal savings practices with modern fintech tools to create a powerful, scalable, and human-centered financial platform. Our mission is to democratize access to finance, particularly for populations that have long been excluded from the formal financial system.”
Investors echo the significance of the company’s model and growth potential. “ROSCAs have existed for centuries, but Money Fellows has successfully reinvented this time-tested system for the digital age,” said Omar Laalej, Managing Director at Al Mada Ventures. “Their platform has a clear, tangible impact on the lives of thousands of Egyptian families. We are excited to support them as they scale further and bring financial empowerment to new markets.”
DPI Venture Capital, through the Nclude Fund, noted that this investment aligns with their broader strategy of supporting technology-led, impact-driven ventures shaping the future of finance in Africa.
Money Fellows continues to position itself as a leading force in the continent’s fintech ecosystem, tackling longstanding financial access challenges through culturally intuitive and tech-enabled solutions. With this new funding, the company is poised to extend its footprint and deepen its role in redefining how communities across emerging markets save, borrow, and build financial resilience.
