Money Fellows, a fintech platform based in Cairo, has raised US$13 million in its latest financing round, bringing the total investment in the company to over US$60 million since its inception.

The funding will help enhance its digital platform, supporting the company’s expansion to over 8.5 million users and partnerships with more than 350 local and regional entities.

The investment round is co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, with additional contributions from Partech and CommerzVentures.

The funds will help the company expand into new markets and modernise traditional savings, borrowing, and investment services, aiming to increase financial inclusion across Africa.

“Money Fellows is a critical player in Africa’s financial ecosystem, combining the power of community-based savings with cutting-edge fintech to create a scalable solution,”

said Ahmed Wadi, Founder and CEO of Money Fellows.

Patrick Meisberger, Managing Partner at CommerzVentures, stated,

“The impact that Money Fellows is making in transforming savings practices is exactly the kind of innovation we’re eager to support.”

Founded in 2017, Money Fellows is set to expand into new markets, including Morocco, and aims to leverage upcoming events like the 2025 Africa Cup of Nations and the 2030 FIFA World Cup to drive digital finance adoption across the region.

Featured image credit: Money Fellows