Money Fellows
Money Fellows is an Egyptian fintech that digitizes the traditional ROSCA ('gameya') savings model into a mobile-first platform serving unbanked and underbanked Egyptian consumers, with 8 million registered users, $1.5B+ in cumulative transactions, and expansion into Morocco via Wafacash.
- Company typePrivate
- Founded2017
- HeadquartersCairo, Egypt
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Money Fellows does
Money Fellows is an Egyptian fintech that digitizes the traditional rotating savings and credit association (ROSCA) model — locally known as 'gameya' — into a mobile-first platform serving primarily unbanked and underbanked Egyptian consumers. The core product is a smartphone and web application that lets users join or create group savings circles of fixed 6, 10, or 12-month durations, make scheduled monthly contributions, and receive a lump-sum payout in their allocated slot, with payouts capped at 1,200,000 EGP and users able to participate in multiple circles concurrently. The platform operates under the supervision of the Central Bank of Egypt's Regulatory Sandbox, with legally binding contracts backing each circle and KYC verification on every user.
The technology stack centers on the consumer mobile app (iOS, Android, Huawei) with an integrated digital wallet, prepaid card, and payments layer. Key proprietary components include the digital gameya circle architecture that replaces informal cash-based pooling with transparent ledger tracking, flexible payout slot selection with fee discounts of up to 25% on late slots, and a Mastercard-branded prepaid card issued in partnership with Banque Misr (over 50,000 cards issued) with Apple Pay support. Payment and payout rails span bank cards, bank transfers, Fawry, and e-wallets. Distribution combines a self-serve PLG consumer app with a B2B channel reaching 300+ corporate partners (including WE, Teleperformance, Eva Pharma, Abu Ghaly, UMS, CON, Deraya, IDH) that offer the platform as an embedded employee financial wellness benefit.
Monetization is primarily transaction-based: service fees on circle participation (with variable pricing tied to slot position and periodic zero-fee or discount promotions), plus prepaid card maintenance/transaction fees and B2B partnership revenue. The company reports $1.5B+ in cumulative transaction volume, 8 million registered users, and approximately 350,000 monthly active users. Founded in 2017 by Ahmed Wadi, headquartered in New Cairo, the company has raised over $60M across multiple rounds (including a $31M Series B in October 2022 and a $13M round in May 2025) from investors including CommerzVentures, MEVP, Arzan Venture Capital, British International Investment, Al Mada Ventures, and DPI Venture Capital. The company recently achieved profitability and expanded into Morocco in April 2026 through a partnership with Wafacash, with regulatory approval from Bank Al-Maghrib, to digitize the local 'Daret' savings tradition.
Money Fellows firmographics
Firmographics- Name
- Money Fellows
- Legal name
- Money Fellows for IT and Project Management S.A.E.
- Website
- https://moneyfellows.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Money Fellows is an Egyptian fintech that digitizes the traditional ROSCA ('gameya') savings model into a mobile-first platform serving unbanked and underbanked Egyptian consumers, with 8 million registered users, $1.5B+ in cumulative transactions, and expansion into Morocco via Wafacash.
- Ownership category
- akta.pro rank
Money Fellows industry classification
Industry- Product category
- Digital Savings Platform
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199), Personal Credit Institutions (6141)
- akta.pro primary industry
- Cash-in/Cash-out Agent Network Wallets (FSAMAEAJ)
Keywords
Where Money Fellows is headquartered
LocationHeadquarters
- HQ city
- Cairo
- HQ country
- Egypt
- HQ region
- Africa
Offices1 record
Markets served
Money Fellows business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Circle Participation Fees: Service fees charged to users for participating in digital gameya/savings circles. Fee structure varies based on slot selection timing, with late slots offering discounts.
- Prepaid Card Operations: Revenue from prepaid card issuance and management through the Banque Misr partnership, including card maintenance fees and transaction fees.
- B2B Enterprise Partnerships: Partnership fees and revenue sharing arrangements with corporate partners offering Money Fellows as employee financial wellness programs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Circle Participation - Variable fees based on slot selection |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Money Fellows product offering
Product offeringCore offering
Money Fellows operates a mobile and web platform that digitizes traditional rotating savings and credit associations (ROSCAs), known locally as 'gameya,' enabling users to join group savings circles, make fixed monthly contributions over 6, 10, or 12 months, and receive a lump-sum payout in their selected slot position. The company also issues a Mastercard prepaid card in partnership with Banque Misr, supporting cashback rewards, Apple Pay, and digital participation for unbanked users. The platform is regulated under the Central Bank of Egypt's Regulatory Sandbox.
Product overview
Money Fellows operates as a unified fintech platform built around a core digitized ROSCA (Rotating Savings and Credit Association) product, commonly known as 'money circles' or 'gameya.' The primary offering is the Money Fellows mobile application and web platform, which enables users to participate in group savings circles by contributing fixed monthly amounts and receiving a lump-sum payout in their allocated slot. The platform recently expanded its portfolio with the Money Fellows Prepaid Card (Mastercard), issued in partnership with Banque Misr, which enables cashback rewards, payday offers, and seamless savings circle management. The platform is regulated by the Central Bank of Egypt's Regulatory Sandbox and supports both Arabic (علم الجيب blog) and English language interfaces.
Differentiator
Problem solved
Functional benefit
Brands
- 3elm Elgeib: Financial literacy blog and educational content platform offering tips on saving, investing, and financial planning for Egyptian households.
- Money Fellows Card
Products and services
- Money Fellows Platform (Digital Money Circles / ROSCA) Mobile and web application that digitizes traditional rotating savings and credit associations (ROSCAs, locally 'gameya'). Users join group savings circles, make fixed monthly contributions, and receive a lump-sum payout in their selected slot. Operates under Central Bank of Egypt Regulatory Sandbox supervision with legally binding contracts and guaranteed payouts. Supports payouts up to 1,200,000 EGP, cashback up to 20%, flexible 6/10/12-month durations, and rewarding late-slot discounts up to 125% off pay-in.
- Money Fellows Prepaid Card Mastercard-branded prepaid card issued in partnership with Banque Misr, enabling users without traditional bank accounts to participate in Money Fellows digital savings circles, receive payouts, make payments via Apple Pay, and earn cashback rewards on purchases. Over 50,000 cards issued to date.
Quantifiable outcome
- Processed over $1.5 billion in transaction volume
- +2 more outcomes
Companies that use Money Fellows
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Money Fellows technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability1 record
Feature3 records
Money Fellows partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship and core.
- WafacashflagshipStrategic partnership announced at GITEX Africa 2024 to digitize Morocco's traditional 'Daret' savings model. This partnership represents Money Fellows' expansion into the Moroccan market, adapting their Egyptian digital ROSCA platform for the Moroccan market's equivalent informal savings mechanism.
- Banque MisrcorePartnership for prepaid card issuance enabling users without traditional bank accounts to participate in Money Fellows' digital savings circles. Over 50,000 prepaid cards have been issued through this partnership.
Scale indicators7 records
Recent moves8 records
Expansion highlights6 records
Money Fellows competitors and assessment
Company assessmentDirect peers
- Esusu: US-based fintech that digitizes ROSCA-style rent reporting and group savings for credit-building tenants. Directly comparable to Money Fellows as a digital ROSCA platform serving underbanked populations with a regulated, app-based group savings product.
- Puddle: UK-based digital ROSCA / savings circle platform for groups to pool and rotate funds. Directly comparable to Money Fellows as a digital group-savings product, though operating in a different regulatory and cultural context.
Broad incumbents
- MNT-Halan: Egypt's largest fintech, offering lending, payments, and savings products to underbanked consumers. Comparable to Money Fellows in customer segment (Egyptian unbanked/underbanked) and regulatory positioning, though it operates at much broader scope and scale.
- Fawry: Egypt's leading electronic bill payments and digital wallet network. Comparable as Egyptian fintech infrastructure layer that Money Fellows integrates with for cash-in/cash-out, and as a broader incumbent shaping the country's digital payments landscape.
- M-Pesa: Pioneering African mobile money platform operated by Safaricom. Comparable to Money Fellows as a transformative digital wallet for unbanked African populations, providing a long-term scale and product-extensibility benchmark.
Emerging players
- Khazna: Egyptian fintech offering payroll-linked financial services and earned-wage access to underbanked workers. Comparable to Money Fellows' B2B employee financial wellness segment and shared focus on payroll-anchored financial inclusion for low-income Egyptian workers.
- Telda: Egyptian neobank offering digital banking accounts and cards to young, underbanked consumers. Comparable as an Egyptian consumer fintech targeting financial inclusion with mobile-first UX and card products, though focused on checking rather than group savings.
- Tala: Emerging-market consumer fintech offering credit and financial services to underbanked populations via mobile app. Comparable to Money Fellows in its data-driven underwriting of underbanked users, expansion playbook across multiple developing markets, and venture-backed growth trajectory.
Regional players
- Vodafone Cash (Egypt): Mobile money wallet operated by Vodafone Egypt, providing cash-in/cash-out, transfers, and merchant payments. Comparable as a distribution and wallet layer competing for the same unbanked Egyptian users that Money Fellows serves.
- Orange Money Egypt: Mobile money service from Orange Egypt offering wallets, transfers, and merchant payments. Comparable to Money Fellows' wallet and cash-in/cash-out functionality for the same unbanked Egyptian consumer base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Money Fellows social profiles
Digital presenceMoney Fellows compliance and trust
Trust signalCompliance1 record
Money Fellows financial estimates
Financial estimateRevenue estimate
Valuation estimate
Money Fellows leadership team
Management profileNumber of profiles
Profiles1 record
Money Fellows funding detail
Funding detailFunding overview
Funding rounds10 records
Investors21 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Money Fellows M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Money Fellows
What does Money Fellows do?
Money Fellows operates a mobile and web platform that digitizes traditional rotating savings and credit associations (ROSCAs), known locally as 'gameya,' enabling users to join group savings circles, make fixed monthly contributions over 6, 10, or 12 months, and receive a lump-sum payout in their selected slot position. The company also issues a Mastercard prepaid card in partnership with Banque Misr, supporting cashback rewards, Apple Pay, and digital participation for unbanked users. The platform is regulated under the Central Bank of Egypt's Regulatory Sandbox.
Is Money Fellows a public or private company?
Money Fellows is a private company. It is classified as venture growth investor backed and is currently operating.
When was Money Fellows founded?
Money Fellows was founded in 2017. It employs 101 to 250 people.
Where is Money Fellows based?
Money Fellows is headquartered in Cairo, Egypt, in the Africa region.
How does Money Fellows make money?
Three revenue lines are on record. Circle Participation Fees are the primary driver. The others are prepaid Card Operations and B2B Enterprise Partnerships.
Who are Money Fellows's main competitors?
Direct peers on record are Esusu and Puddle. Broad incumbents are MNT-Halan, Fawry and M-Pesa. Emerging players are Khazna, Telda and Tala. Regional players are Vodafone Cash (Egypt) and Orange Money Egypt.
Does Money Fellows have an API?
No public API is recorded for Money Fellows.
What industry is Money Fellows in?
Money Fellows's product category is Digital Savings Platform. Its primary akta.pro industry code is FSAMAEAJ, Cash-in/Cash-out Agent Network Wallets. Its NAICS code is 52232 and its SIC code is 6199.