(Ecofin agency) – After mobilizing $ 31 million in October 2022, during the first round of its series B investment, Money Fellows secured new funding which brings more than $ 60 million the total investments received since its creation.
The Egyptian fintech, Money Fellows, raised $ 13 million during a round of table announced this Monday, May 5, 2025 to modernize its digital platform which claims more than 8.5 million users and collaborates with more than 350 local and regional partners. Funds will also strengthen the company’s technological infrastructure and operational capacity to support a regional expansion strategy, particularly in North Africa, where Morocco is identified as a priority market.
The operation was co -edited by Al Mada Ventures and DPI Venture Capital via the NCLUDE Fund, with the participation of several investors such as Partch and Commerzventures. It is an extension of the B series investment, bringing more than $ 60 million the total amount invested in the company since its creation in 2017 by Ahmed Wadi.
The expansion of the company is one of the priorities announced by its founder since 2022. However, the implementation of this strategy has been delayed by the specificities under the economic model. Indeed, it was based on the digitization of traditional savings circles, also called tontines or Roscas (Rotating Savings and Credit Association). Before setting up in new markets, the company has chosen to consolidate its model and adapt its approach to local contexts.
It also plans to strengthen its teams, by recruiting new talents to support its growth and ensure the management of operations in the targeted markets. The objective is to reproduce its model on a larger scale, while taking into account the regulations specific to each country.
“This investment testifies to our potential to continue our mission: to give individuals, in particular in poorly served regions, the means of saving, investing and accessing credit in a profitable and effective way”, said Wadi.
-Beyond savings and credit, Money Fellows intends to expand its service portfolio with the launch of investment, pay, insurance and money transfer products. This diversification aims to digitize informal financial mechanisms, while meeting the needs of a population still widely excluded from traditional banking services.
The platform has already facilitated more than $ 50 million in investments for its users and supports nearly 250,000 active subscribers.
In October 2022, Money Fellows closed a B fin financing tour, with a lifting of $ 31 million. This tour was led by Commerzventures, Middle East Venture Partners (MEVP) and Arzan Venture Capital, with the participation of Invent and the National Investment Company (NIC). Several historic investors, including Partech, Sawari Ventures, 4DX Ventures and P1ventures, have also renewed their support on this occasion.
Two years earlier, in June 2020, the Fintech completed a standard A lifting of $ 4 million from Partech and Sawari Ventures to support its first development phases. By combining traditional savings practices and digital technologies, it wishes to offer an alternative to conventional circuits, by promoting mass financial inclusion.
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