Money Fellows raises $13M pre-Series C to scale digital ROSCA platform across North Africa

💸 Egypt-based Money Fellows has raised $13 million in a pre-Series C round to expand its digital savings and credit platform across Africa. The round brings its total funding to $60 million since launch.

The round was co-led by Al Mada Ventures and DPI Venture Capital (via the Nclude Fund), with participation from Partech, CommerzVentures, and others.

Founded in 2017 by Ahmed Wadi, Money Fellows digitises ROSCAs — rotating savings and credit associations — offering a structured, regulated alternative to informal savings models used by millions across MENA and Africa.

⏪ Background

ROSCA models are centuries old — but still power how large segments of the population manage money where access to formal banking is limited.

Money Fellows translates this model into a digital-first experience: users join verified groups to save and borrow collectively, with transparent rules, automated collections, and credit scoring built in.

The platform now serves 8.5 million users and works with 350+ partners across Egypt.

❌ The size of the opportunity

In many African and Middle Eastern markets, formal credit remains out of reach for the majority.

Despite increasing digital infrastructure, financial trust, risk profiling, and compliance have made scaling consumer-facing fintech in these markets difficult.

Money Fellows’ model works because it builds on something familiar — but adds structure, regulation, and predictability.

📖 What does the company do?

The platform enables:

• Verified digital ROSCA cycles for saving and borrowing

• Embedded credit scoring and payment automation

• Access to credit with reduced friction

• Partnerships with banks, telcos, and retailers

The model not only digitises a known system — it creates a bridge to formal financial services.

🔍 Strategic logic

This isn’t a classic growth round – it’s a strategic pre-Series C raise designed to prepare the company for regional expansion, particularly into Morocco and North Africa, where ROSCA habits are deeply embedded.

The participation of Al Mada and DPI – both seasoned African investors – reflects a longer-term regional bet.

🔮 Outlook

Consumer fintech is notoriously difficult to scale in MENA and Africa – but Money Fellows is one of the few that’s cracked both traction and trust.

With strong cultural alignment, investor backing, and embedded behaviour to build on, the company is well-positioned to lead the next chapter of digital financial inclusion across the continent.