Money Fellows Achieves $1.5 Billion in Transactions, Leading the Journey from “Traditional Rotating Savings” to Digital Financial Empowerment

Money Fellows, a leading fintech company revolutionizing traditional Rotating Savings and Credit Associations (RoSCA), announced that it has exceeded 8 million users, with over 2 million rotating savings groups completed through its application since its launch. The announcement came during a panel discussion highlighting Money Fellows’s journey and efforts to digitize the traditional money circle, one of Egypt’s most popular informal financial models, transforming it into a safe and user-friendly digital financial platform for individuals nationwide.

Money Fellows is the first Egyptian platform to offer an integrated experience combining digital savings groups, smart saving solutions, and a prepaid card, in partnership with Banque Misr as its main banking partner. Under the supervision of the Central Bank of Egypt’s FinTech Regulatory Sandbox, these services allow users to easily join savings circles, pay installments, or receive payouts through multiple payment methods, including bank cards, e-wallets or via the Money Fellows prepaid card, all with zero service fees.

The platform currently serves around 350,000 monthly active users, has issued over 50,000 prepaid cards, and signed 328 B2B2C partnership agreements with leading companies and institutions. It also operates more than 40 distribution points across Egypt.

Total transaction value on the platform has exceeded $1.5 billion, backed by over $60 million in funding from local and international investors, reflecting its strong market penetration and rapid growth within Egypt’s fintech ecosystem.

Ahmed Wadi, Founder and CEO of Money Fellows, stated: “At Money Fellows, we believe technology can be a powerful tool to empower communities and promote financial equity. 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. We have successfully achieved profitability, ensuring business continuity and enabling further expansion of our services.”

He added: “We continue to expand our services in line with Egypt’s national digital transformation and financial inclusion strategies. The success of Money Fellows is not just measured by numbers, but by the positive impact it creates in people’s lives, enabling millions to achieve their goals and improve their financial well-being. We aim to reimagine traditional financial systems into safe, organized digital solutions, offering a seamless experience that helps users save and access financing to meet both short- and long-term aspirations, ultimately building a more aware and sustainable financial society.”

By integrating savings and financing services through the digital RoSCA platform, Money Fellows has succeeded in delivering a comprehensive financial experience that combines convenience and security, enabling users to manage their financial commitments, save, and access funding with ease and transparency.

Money Fellows prepaid card facilitates deposits, withdrawals, and payments without service fees, offering additional benefits such as cashback and discounts at major retailers. This makes it a key tool in driving financial inclusion and empowering users to conduct their daily financial transactions digitally with confidence and ease.