Money Fellows Raises $13M to Expand Digital Savings Platform Across Africa

Money Fellows, an Egyptian fintech platform, has raised $13 million in a strategic extension of its funding round, bringing the company’s total capital raised to over $60 million since inception.

The new investment will support the enhancement of its digital platform, broaden its product offerings, and drive regional expansion as the platform’s user base grows beyond 8.5 million and partnerships exceed 350 across local and regional networks.

The round is co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, with notable participation from Partech and CommerzVentures—investors recognised for their commitment to innovation in emerging markets.

“This investment is a testament to the potential we have to further our mission of empowering individuals, especially in underserved regions, to save, invest, and access credit in a cost-effective and impactful way,” said Ahmed Wadi, Founder and CEO of Money Fellows.

Leveraging the traditional Rotating Savings and Credit Association (ROSCA) model, Money Fellows has digitised a centuries-old financial practice to deliver modern, secure, and scalable services to users across Africa. Its innovative platform blends the familiarity of group savings with cutting-edge technology, enabling greater financial inclusion.

Mohamed Aladdin, General Partner at DPI Venture Capital, added, “We believe the future of financial services in Africa lies in innovation. Money Fellows is leading the way by modernising traditional savings systems and enabling seamless access to financial tools for consumers.”

Cyril Collon, General Partner at Partech, stated, “Their platform is uniquely positioned to drive financial inclusion by combining traditional savings practices with digital solutions on a massive scale.”

Patrick Meisberger, Managing Partner at CommerzVentures, concluded, “The impact Money Fellows is making in transforming savings habits is exactly the kind of innovation we are eager to support. By digitising savings circles, they are not just changing the way people save—they are changing lives.”

With this fresh capital, Money Fellows will focus on expanding into new markets, including North Africa, with a particular emphasis on Morocco. The timing aligns with major regional events such as the 2025 Africa Cup of Nations and the 2030 FIFA World Cup, which are expected to boost digital infrastructure and consumer adoption of fintech services.