The fintech company Money Fellows has raised a total of $50 million so far from Series A and B funding rounds.

What happened?

The company recently completed the first close of its Series B funding round, securing an investment of $31 million. The round was led by CommerzVentures, MEVP, and Arzan Venture Capital, with additional participation from Invenfin and the National Investment Company (NIC).

Current investors, including Partech, Sawari Ventures, 4DX, and P1Ventures, also participated in the round.

With its rapid growth, Money Fellows is approaching a Series C funding round, aiming to raise between $80 and $100 million. This round is intended to fund the next expansion phase, including entering emerging international markets and broadening its product offerings. The new funding will enable Money Fellows to accelerate its growth, expand its diverse range of financial products across B2C and B2B sectors, and enhance its global geographic reach.