Cairo-based fintech MoneyFellows has raised $13 million in a pre-Series C round, bringing its total funding to more than $60 million as the company plans to take its digital rotating savings model beyond Egypt. The round was co-led by Al Mada Ventures and DPI's Nclude Fund, with participation from Partech Africa and CommerzVentures.
MoneyFellows has built its platform around the gam'eya, a traditional rotating savings and credit association widely practised in Egypt and across the Arab world, digitising a mechanism through which a group of participants contribute fixed amounts each cycle and members take turns receiving the pooled sum. The company counts more than 8.5 million users on its platform and plans to launch its service in Morocco before the end of 2025.