Egyptian fintech innovator Money Fellows has crossed a major milestone, surpassing $1.5 billion in total transactions and reaching 8 million users as it continues to digitize traditional rotating savings circles across the country. The company also announced it has achieved profitability, marking a significant step in its growth journey.
Founded by Ahmed Wadi, Money Fellows operates under the supervision of the Central Bank of Egypt’s FinTech Regulatory Sandbox and is the first Egyptian platform to offer an integrated experience combining digital savings groups, smart savings tools, and a prepaid card developed in partnership with Banque Misr.
Since its launch, the platform has completed over 2 million rotating savings groups, serving around 350,000 monthly active users. It has issued over 50,000 prepaid cards and forged 328 B2B2C partnerships with major companies and institutions. The company has also raised more than $60 million in funding from local and international investors.
In a statement, Wadi said, “At Money Fellows, we believe technology can be a powerful tool to empower communities and promote financial equity. Achieving profitability ensures our business continuity and allows us to expand our impact further.”
Money Fellows’ prepaid card enables users to deposit, withdraw, and make payments with zero service fees, while offering cashback and retailer discounts, furthering its mission to drive financial inclusion and improve everyday financial accessibility.
