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Money Fellows Reaches $1.5 Billion Milestone as Egypt’s Digital Finance Expands
Egypt’s fintech company Money Fellows has exceeded $1.5 billion in total transaction value and reached more than 8 million users, marking a milestone for the country’s growing digital finance sector. The firm operates under the supervision of the Central Bank of Egypt’s FinTech Regulatory Sandbox, a program that allows controlled innovation in financial technology.
Founded to digitize Egypt’s traditional rotating savings and credit associations—known locally as gameya—Money Fellows has turned an informal cultural practice into a scalable digital service. The company has completed over 2 million savings circles through its platform and recently achieved profitability, according to founder and CEO Ahmed Wadi.
Digitizing a Centuries-Old Practice
Rotating savings circles have long served as an informal credit mechanism across Africa and the Middle East. Participants contribute regularly to a shared fund, and each member takes turns receiving a lump-sum payout. Money Fellows’ model digitizes this process, offering security, automation, and transparency while retaining the social element that drives participation.
By transferring this system to a regulated digital platform, Money Fellows bridges informal finance and the formal banking sector. The company’s operations fall within the framework of the Central Bank’s FinTech Regulatory Sandbox, ensuring compliance while testing new models for inclusion.
This alignment between regulatory oversight and digital experimentation reflects Egypt’s broader push to expand financial access through fintech innovation.
Profitability and Product Integration
Reaching profitability marks a significant step for Money Fellows in a market where many fintech start-ups focus on growth before sustainability. The company offers an integrated experience that combines digital savings circles, smart saving tools, and a prepaid card developed in partnership with Banque Misr.
The prepaid card supports deposits, withdrawals, and payments without service fees, while offering cashback and discounts through retail partnerships. With more than 50,000 cards issued so far, it functions as both a customer loyalty tool and a gateway to cashless transactions.
Money Fellows currently serves about 350,000 monthly active users and maintains 328 B2B2C partnership agreements with local corporations and institutions, extending its reach through payroll-linked and community-based programs.
Expanding Financial Inclusion Through Fintech
The rise of Money Fellows illustrates a broader pattern across emerging markets: technology firms are building bridges to financial inclusion by digitizing practices rooted in community trust. Egypt, where cash remains dominant, has been prioritizing digital payments and financial literacy through central bank initiatives and public-private partnerships.
According to Central Bank data, more than half of Egyptians remain unbanked, leaving significant room for growth in digital finance. Platforms like Money Fellows help fill this gap by providing low-cost access to savings and credit tools that previously existed outside formal institutions.
The company’s approach combines familiarity with accountability. By embedding gameya into a mobile environment, it reduces default risk, enhances transparency, and introduces participants to regulated financial services.
Investment and Ecosystem Growth
Money Fellows has attracted over $60 million in funding from both local and international investors, reflecting growing confidence in Egypt’s fintech sector. Backers include regional venture funds and global impact investors focused on financial inclusion.
The company’s business model aligns with Egypt’s Vision 2030 strategy, which identifies digital transformation and inclusive finance as key pillars for economic growth. By achieving profitability, Money Fellows demonstrates that inclusion-driven fintech can scale sustainably while delivering measurable social impact.
The firm’s success has also positioned Egypt as a rising hub for fintech in North Africa, alongside Nigeria and Kenya in sub-Saharan Africa. The Central Bank’s regulatory sandbox continues to attract start-ups experimenting with digital lending, payments, and micro-savings products under controlled supervision.
A Model for Digital Trust
Money Fellows’ growth has hinged on trust—a crucial element in both traditional savings circles and digital ecosystems. By leveraging smartphone access and data analytics, the platform verifies participants, manages payouts, and automates risk scoring. These features help maintain the reliability of community savings while reducing barriers to entry for new users.
Analysts see such models as steppingstones toward deeper financial inclusion. They blend cultural familiarity with modern infrastructure, allowing fintech firms to serve segments that conventional banks often overlook.
For Money Fellows, this balance has yielded both economic and social returns. Beyond transaction volume, the company measures success by how users achieve savings goals or finance personal projects through collective participation.
Outlook
As Egypt’s fintech environment matures, Money Fellows represents how local innovation can translate cultural practices into formal, regulated finance. Its expansion also highlights how collaboration between start-ups, banks, and regulators can deliver scalable solutions tailored to national needs.
While challenges remain—ranging from digital literacy to regulatory complexity—the company’s trajectory shows that inclusive finance can be profitable when rooted in local realities.
The next stage for Money Fellows may involve regional expansion or integration with broader payment systems, but its immediate impact is already visible: a community-driven fintech transforming trust-based savings into a cornerstone of Egypt’s digital economy.
