Conversation with Ahmed Wadi – MasterMinds

Today on MasterMinds, we meet a visionary entrepreneur and technologist who’s redefining how people save, borrow, and invest across emerging markets. Ahmed Wadi, Founder and CEO of Money Fellows, has built one of the most impactful fintech platforms in the region — turning a centuries-old social finance concept into a digital revolution that empowers millions.

A software engineer turned founder, Ahmed combined his technical expertise with a bold vision: to reimagine the traditional ROSCA (Rotating Savings and Credit Association) model through technology. The result is Money Fellows — the world’s first and largest Money Circles app, now trusted by over 7 million users.

Since its launch in 2018, the company has raised over $45 million and is now gearing up for a $100 million Series C as it expands beyond Egypt. Regulated by the Central Bank of Egypt, Money Fellows stands at the intersection of community-driven finance and innovation, offering users smarter, safer, and more inclusive access to financial empowerment.

Ahmed’s journey reflects what happens when deep technical skill meets real-world vision — proving that technology, when built on trust and community, has the power to change how entire societies think about money.

My studies and work experience in Germany, along with founding a startup there, taught me that any successful product must solve a real user problem. This experience saved me years of trial and error and confirmed that success starts with understanding customer needs, not just having a good idea. So, when I decided to launch Money Fellows, I focused from day one on solving a real challenge in people’s financial lives.

The inspiration came during my time in Germany when I was seeking personal financing options. I found that the available choices required a long credit history, which limited access for many qualified people. That’s when I remembered the Egyptian “Gameya” — the traditional rotating savings and credit association — which has long been a trusted financial tool for millions.

However, it lacked convenience: it relied on personal social circles, had rigid payment cycles, and lacked modern financial security. I realized that fintech could fill these gaps — bringing structure, transparency, and safety — in a market that could reach a trillion dollars globally. Today, Money Fellows is more than a fintech company; it’s a bridge connecting tradition and technology to offer essential and inclusive financial services to our community.

That was always the goal. I saw huge potential in the market, both in Egypt and globally — opportunities worth billions of dollars. The vision was clear, but the timeline wasn’t. It took many steps to reach where we are today.

Diversity is key when it comes to saving. The product offers a flexible and safe monthly saving method but shouldn’t replace other financial tools. Ideally, users should balance between saving and investing to minimize financial risks.

The idea itself — digitizing a trusted social finance model — attracted global interest. Many companies had tried to implement it elsewhere, but we were the first to successfully execute it in our region. Investors saw a massive untapped market, a sustainable business model, and a capable team that could overcome challenges and deliver long-term growth.

All circles are 100% guaranteed, and we operate under the supervision of the Central Bank of Egypt’s Regulatory Sandbox. Banque Misr handles all financial operations. If any member fails to pay, penalties and legal procedures are applied to ensure seriousness and commitment.

We tie saving to specific, achievable goals — such as paying school fees, starting a business, or traveling. The app makes saving a consistent habit rather than a burden and gives users a sense of financial achievement with every completed cycle.

Everything is managed through the app in a simple, clear process. Users select a group that suits them, each with a defined payment and payout schedule. All financial transactions are conducted electronically through our partnership with Banque Misr to ensure complete security.

Gameya Is deeply rooted in Egyptian culture, and people trust it more than any other financial product. We didn’t change its essence — we reinvented it to be more secure, organized, and user-friendly.

The app speaks the user’s language while offering a modern, transparent digital experience that builds trust.

Money Fellows is a mobile-based platform that digitizes traditional savings and lending circles (RoSCAs). It helps users plan and manage their financial commitments efficiently and achieve their goals. The platform provides a culturally relevant and socially connected alternative to traditional credit, becoming one of Egypt’s favorite financial apps.

We position ourselves differently from consumer financing apps. Our users are planners and savers — not just buyers. We also launched a prepaid card that enhances the digital experience and gives users more control over their money.

We’ve secured $60 million in funding, as investors recognized us as the largest global platform for organizing digital savings circles. We’re now preparing for a new, larger funding round next year to support our expansion plans.

We’ve processed transactions worth over $1.5 billion, the app has been downloaded more than 8 million times, and we have 350,000 monthly active users and over 1 million users who’ve reached their financial goals through the platform.

We aim to take our model beyond Egypt. We’ve already begun preparing for expansion in Morocco in the first quarter of next year. After raising $60 million, we’re now working toward a larger round and targeting 1 million active users by next year. Alongside that, we plan to launch new financial products to complement the prepaid card.

Building trust and changing user behavior were the hardest parts, especially in a market that lacked clear fintech regulations. We overcame this through steady growth and recently achieved profitability — a major milestone for any startup.

We also worked closely with the Central Bank to develop a regulatory framework for our model, and today we operate legally under their direct supervision.

Morocco is an open market with significant demand for our solution and less competition. We’re partnering with Attijariwafa Bank, the country’s largest bank, to access its customer base and scale quickly. Morocco will serve as our gateway to Africa, proving the model’s success there before expanding to other countries.

Our goal is to empower users through simple, transparent financial tools that help them manage their money wisely. We believe technology is not an end in itself but a means to enable people to make better, more sustainable financial decisions. The prepaid card is just the start — we’re developing more products for the unbanked to promote true financial inclusion.

Find a real problem and start solving it — don’t wait for perfection. Launch a simple prototype, listen to your users, and keep improving based on their feedback. Success doesn’t come from the perfect launch; it comes from continuous learning and adaptation.