For over eight years, inspired by the need to save smart, without falling into the trap of high-interest debt, Money Fellows has been standing with families and youth across Egypt.
In 2018, we noticed a real pain: prices were rising, wages were stretched, and people needed a way to buy essentials without predatory financing. A massive gap existed between what people wanted to achieve financially and what traditional options allowed.
That’s when we launched Money Fellows. From day one, we believed that money circles aren’t just about saving, they’re built on community, responsibility, and trust. Yet we also knew the model needed to evolve.
It needed to be digital, inclusive, and relevant to modern life. That spark became a mission: to deliver a secure, flexible, and tech-first alternative to traditional ROSCAs/money circles.
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2018: Birth of the First Fully Digital Rosca/Money Circle
“Wait... a saving circle on the phone?”
That’s the reaction many had when Ahmed Wadi, Founder & CEO of Money Fellows, first introduced the idea of turning the traditional ROSCA into a 100% mobile experience. People had questions. A lot of them:
- Do you mean I can join a money circle through an app? How does that even work?
- Is my money going to be safe?
- Who’s managing all this, and how can I trust them?
Those questions weren’t a challenge; they were exactly what we needed to hear. Because from day one, our mission was clear: To build a safe, transparent, and user-first platform that made money circles smarter, easier, and fully digital without losing the trust and shared responsibility that makes money circles what they are.
With a $600K pre‑seed and a promise of transparency and safety, we proved that community-based money circles could thrive online, organized, modern, and intuitive.
2020: Securing $4M and Hitting 1 Million Users
2020 marked a turning point for Money Fellows:
- Raised a $4 million Series A
- Achieved 1 million active users
This milestone confirmed our mission: people were not only interested, but they were also embracing smart saving, and they were bringing friends and family into the fold. The trust was growing organically.
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2022: Explosive Growth, 1M to 4.5M Users + $31M Fundraise
In just under two years, our user base skyrocketed:
- Jumped to 4.5 million users
- Secured $31 million Series B funding
These investments helped us introduce more flexible saving plans, new UI/UX upgrades, and broader financial education, all driving financial independence among Gen Z and millennials alike.
