Money Fellows Hits $1.5 Billion in Transactions as User Base Surpasses 8 Million

 Egyptian fintech company Money Fellows has surpassed 8 million users and processed over $1.5 billion in transactions, underscoring its role as one of the country’s leading digital financial platforms.

Founded in 2016 by Ahmed Wadi, Money Fellows digitizes Egypt’s traditional rotating savings and credit association model, locally known as “gam’eya.” The platform allows users to join savings circles, contribute regularly, and take turns receiving payouts, providing a structured and secure alternative to informal savings groups that have long been part of Egyptian culture.

Transforming a Traditional Model

Money Fellows’ approach integrates a centuries-old financial practice with modern digital tools. Through its mobile app, users can join verified savings groups, make contributions electronically, and access their funds through a prepaid card in partnership with Banque Misr.

The company operates under the supervision of the Central Bank of Egypt’s FinTech Sandbox, which provides regulatory oversight for emerging financial technologies. This partnership has helped establish user trust and ensured compliance with national financial standards.

Scale and Milestones

According to company reports, Money Fellows has achieved several milestones in 2025:

• User base: More than 8 million registered users across Egypt.

• Transaction volume: Over $1.5 billion processed through the platform.

• Profitability: The company reports reaching profitability within its local market.

• Funding: A total of more than $60 million raised to date, including a $13 million round in May 2025.

The fintech’s recent growth follows an expansion of its services beyond savings circles, including tools for financial planning and access to credit for both individuals and small businesses.

Regulatory and Partnership Framework

Money Fellows’ operations are supported by partnerships with leading Egyptian financial institutions. Its prepaid card system, developed with Banque Misr, provides a formal banking channel for users, helping bridge the gap between Egypt’s informal financial practices and the country’s regulated banking system.

The company’s placement in the Central Bank’s regulatory sandbox has allowed it to scale within a controlled environment, testing its model while meeting compliance requirements.

Driving Financial Inclusion in the Fintech Era

Egypt’s fintech sector has grown rapidly in recent years, fueled by increasing smartphone penetration, digital payment adoption, and government support for financial inclusion. Platforms like Money Fellows have become a gateway for millions of unbanked or underbanked citizens to access structured savings and credit options.

By digitizing the gam’eya model, Money Fellows offers a secure and transparent alternative to informal group savings, aligning with Egypt’s broader national strategy to expand access to financial services.

Strategic Vision for Regional Expansion

With a growing user base and continued investor interest, Money Fellows plans to expand its offerings and explore regional markets. The company’s next phase will focus on scaling its infrastructure, deepening user engagement, and integrating more financial products designed for emerging markets.

Its trajectory reflects both the potential and the ongoing evolution of Egypt’s fintech ecosystem, as startups continue to merge traditional practices with technology to drive inclusion and efficiency across Africa’s financial landscape.