MoneyFellows digitizes the traditional ROSCA model by letting users form or join savings “circles” through its app and matching savers and borrowers using behavioural data, credit scores, and income tiers. The company typically does not lend from its balance sheet, stepping in only when a circle has an unfilled slot; under 10% of slots are unfilled and only about 7–8% of active slots require the company to supply working capital. MoneyFellows has kept operations lean and says it has reached profitability in Egypt. Since launching in 2016, the platform has grown to over 8.5 million users (up from 4.5 million at the last funding milestone) and the average payout per user has increased from 23,000 EGP to 45,000 EGP. It recently launched a card product for payouts, repayments, and merchant spending, and plans to add investment, payroll, insurance, and remittance products. After nearly a decade refining the model, the company has partnered with over 350 local and regional entities, facilitated more than $50 million in investments, and plans to expand regionally starting with a Morocco launch by year-end. Money Fellows digitizes traditional money circles (ROSCAs), enabling users to join, form and participate in rotating savings groups via its app while applying credit assessments to broaden participant pools. The platform charges a one-time service fee (about 6% for early slots, decreasing for later slots) and generates additional revenue via B2B merchant partnerships and commissions. It sets aside reserves and follows a provisioning schedule to cover defaults and manage credit exposure across different ROSCA slots. The company reports over 4.5 million registered users, with roughly 7% monthly active users and an average payout ticket of about 23,000 EGP (~$1,100); it claims 8x year-over-year growth. Money Fellows also plans to expand its product mix — including buy now pay later, pension products and cards (aiming to earn interchange fees) — and to grow across B2C and B2B segments and into other African and Asian markets. MoneyFellows is a Cairo-based fintech platform that digitises informal rotating savings and credit associations (money circles) to help users manage group lending and savings. Its product includes salary automated deductions, fixed payout dates and a smart scoring system to assess users. The startup says it has over 150,000 active users verified by a user assessment algorithm. MoneyFellows was founded in 2016 by CEO Ahmed Wadi. The company plans to use new investment to expand operations across Egypt and into other African countries and to launch a slate of new products in the coming months. MoneyFellows offers a digital platform that automates and manages informal rotating savings and credit circles with features like salary automated deductions, fixed payout dates and a smart scoring system. Since launching it has grown to over 250,000 registered users and 65,000 monthly active users, with paying users showing 60% month-on-month growth. The company reports having generated hundreds of thousands of dollars in revenue and says over $5 million has circulated through the platform. Current product plans include a software release with new features and user-experience improvements and integration of multiple ewallets and direct debit options via banking partners. MoneyFellows also plans bill-payment and merchant-acceptance features to let users spend credit at merchants. The startup aims to expand across MENA (Jordan, UAE, Saudi Arabia) and into several African markets (Ethiopia, Nigeria, Kenya, South Africa) to increase financial inclusion for underserved populations.

Total raised

$49M

Funding rounds

4

Latest round

Series C

Latest activity

May 2025