Money Fellows, a financial technology company based in Cairo, successfully secures $13 million in funding to broaden fintech services across Africa.
Money Fellows Secures $13 Million in Funding for Expansion and Modernization
Money Fellows, a Cairo-based fintech startup, has raised $13 million in a strategic funding round. This investment, co-led by Al Mada Ventures and DPI Venture Capital via the Nclude Fund, brings the total investment in Money Fellows to over $60 million [1].
The funding round saw the participation of other backers, including Partech and CommerzVentures. This support underscores the confidence in Money Fellows' potential for growth and financial inclusion.
Ahmed Wadi, founder and CEO of Money Fellows, expressed his excitement about the investment, stating, "We are empowering individuals to save, invest, and access credit cost-effectively" [2]. The company plans to use the new capital to enhance its digital infrastructure and scale its operations to new countries, with a focus on Morocco.
Money Fellows positions itself as a key player in Africa's growing fintech space. The platform has grown to 8.5 million users and partners with over 350 local and regional institutions [1]. The company aims to modernize ROSCA (Rotating Savings and Credit Association) systems, digitizing an ancient financial model as mentioned by Omar Laalej of AMV [2].
The growth of Money Fellows may also benefit from upcoming regional events like AFCON 2025 and the 2030 FIFA World Cup. These events are expected to attract a large number of tourists and businesses, providing opportunities for the fintech startup to expand its user base [1].
Mohamed Aladdin of DPI Venture Capital said, "The future of African finance is innovation, and Money Fellows is an example of it" [2]. The investment in Money Fellows is a testament to the growing interest in African fintech startups and the potential they hold for financial inclusion and economic growth.
[1] TechCrunch. (2025, May 10). Money Fellows raises $13M to modernize ROSCA systems in Africa. TechCrunch. https://techcrunch.com/2025/05/10/money-fellows-raises-13m-to-modernize-rosca-systems-in-africa/
[2] Money Fellows. (2025, May 10). Press Release: Money Fellows raises $13 million to modernize ROSCA systems in Africa. Money Fellows. https://moneyfellows.com/press-releases/2025/05/10/money-fellows-raises-13m-to-modernize-rosca-systems-in-africa/
[3] Partech. (2025, May 10). Partech co-leads $13M investment in Money Fellows to modernize ROSCA systems in Africa. Partech. https://partech.vc/partech-co-leads-13m-investment-in-money-fellows-to-modernize-rosca-systems-in-africa/
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