Money Fellows secure $13M funding to boost financial inclusion in Africa

Updated 5/5/2025 10:32:00 AM

Arab Finance: Cairo-based fintech digital platform Money Fellows raised $13 million in a new financing round to boost financial inclusion and enable millions of individuals to access innovative and efficient financial services, according to an emailed press release.

This fundraising brings the total amount invested in the company to more than $60 million since its inception.

The company will use the new investment, which was co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, to improve and upgrade its digital platform. Partech and CommerzVentures also participated in the transaction to drive innovation across emerging markets.

The finetch has over 350 local and regional partners, with more than 8.5 million registered users registered within its platform.

Additionally, the funding round aligns with the company’s growth plans to expand into new markets and drive a major shift in traditional methods of saving, borrowing, and investing.

On his part, Ahmed Wadi, Founder and CEO of Money Fellows, commented: “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 seamless and scalable solution.”

“This investment is a testament to the potential we have to further our mission of empowering individuals, especially in underserved regions, to save, invest, and access credit in a cost-effective and impactful way,” Wadi highlighted.

Mohamed Aladdin, General Partner at DPI Venture Capital, commented: “We are excited to partner with such a visionary company on a mission to enable seamless access to financial management tools to consumers in Egypt, and look forward to seeing them expand their impact across the Middle East and Africa.”