Egyptian Fintech Money Fellows Surpasses 8 Million Users, Processes Over $1.5 Billion in Transactions
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Egyptian fintech giant Money Fellows has announced a major milestone, revealing that it now serves over 8 million users and has processed more than $1.5 billion in transactions. The achievement highlights the company’s rapid growth and its success in digitising the traditional rotating savings and credit model known as RoSCA.
Founded in 2017, Money Fellows has revolutionised how individuals in Egypt and beyond save and borrow money collectively. Its digital platform enables users to join secure, transparent rotating savings groups, making the long-standing informal system safer, more efficient, and easier to manage. The company has already completed over 2 million savings cycles through its app.
Founder and CEO Ahmed Wadi said the company’s mission is rooted in using technology to empower communities and expand financial inclusion. “Through our services, from digital savings groups to smart saving solutions and prepaid cards, we aim to provide simple, real-life solutions that help people save and access financing more flexibly and transparently,” he said.
Money Fellows is the first Egyptian platform to combine digital savings groups, smart saving tools, and prepaid cards in partnership with Banque Misr, its main banking partner. The platform’s integrated financial ecosystem allows users to deposit, withdraw, and make payments without service fees, while enjoying benefits such as cashback and discounts.
With over $60 million raised from both local and international investors—including Partech Africa and CommerzVentures—the company continues to expand its reach and impact. Its innovative approach has also earned it a place in the Central Bank of Egypt’s FinTech Regulatory Sandbox, validating its secure and compliant financial model.
Wadi noted that RoSCAs represent a $700 billion opportunity globally and remain popular across more than 90 developing economies. “Our goal is to reimagine traditional financial systems into safe, organised digital solutions that enable users to achieve their financial goals and improve their overall well-being,” he said.
Money Fellows currently serves around 350,000 monthly active users and has issued more than 50,000 prepaid cards. The company has also signed over 328 B2B2C partnership agreements with leading companies and institutions, operating more than 40 distribution points across Egypt.
In May 2025, Money Fellows secured an additional $13 million in funding, which will support further platform enhancements and expansion across Africa. The fintech’s continued success underscores Egypt’s growing role as a hub for financial innovation on the continent.
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