Money Fellows Revolutionises Egypt’s Fintech Landscape with $1.5B in Transactions

Last updated 21-10-2025

3 min

Money Fellows has reshaped Egyptian saving habits by digitising traditional rotating savings groups, attracting over 8 million users.

Their platform allows users to join digital savings circles with zero service fees, building trust and accessibility.

The company serves 350,000 active monthly users, issued 50,000 prepaid cards, and forged 328 partnerships nationwide.

Founder Ahmed Wadi believes in blending cultural familiarity with modern technology for community empowerment.

Money Fellows aims to support Egypt's digital transformation, though competition with larger finance players may increase.

It’s not every day that a home-grown fintech manages to win over millions of users while reshaping one of Egypt’s most familiar financial habits. Money Fellows, the app giving a digital twist to the age-old gameya (rotating savings and credit associations, or RoSCAs), has now clocked more than 8 million users. Since its launch, over 2 million savings circles have been completed through the platform, and—believe it or not—transactions have topped $1.5 billion. Not too shabby for a startup that began by digitising what was once an entirely informal community practice.

What struck me most when following Money Fellows’ story was how cleverly they’ve bridged trust and technology. Their system lets users join digital savings groups, make payments or collect their turn via bank cards, e-wallets or even a prepaid card—introduced in partnership with Banque Misr and operating under the Central Bank’s fintech sandbox. The best bit? Zero service fees. For many first-time digital users, that small gesture can make all the difference.

The company says it’s now serving around 350,000 active users each month, has issued over 50,000 prepaid cards and sealed 328 partnership agreements with corporations and institutions nationwide. Plus, with over 40 distribution points and some $60 million in funding from both local and international investors, the brand is clearly carving out a place of its own within Egypt’s buzzing fintech ecosystem.

Founder and CEO Ahmed Wadi described their vision rather well: technology, he said, can empower communities by making financial tools fairer and more transparent. Money Fellows, which has now reached profitability, wants to blend cultural familiarity with modern efficiency. And that, I reckon, is spot on—people tend to adopt digital finance more easily when it feels like an extension of what they already trust.

He also connected the company’s goals to Egypt’s broader national push for digital transformation and financial inclusion. As he put it, success isn’t just about impressive user numbers but also about how many lives it touches—helping ordinary people plan better and reach their goals. On the flip side, sustaining that momentum will be a bit of a faff once larger players in regional finance start taking a closer look at this space; competition will likely heat up.

One clever move is their prepaid card, which allows deposits, payments and withdrawals without fees, while adding cashback and discounts with certain retailers. It’s a tidy incentive for anyone wary of hidden costs. I’ve seen up close—through Arageek’s work with early-stage founders—how the link between trust and usability can make or break digital finance adoption. And Money Fellows seems to have got that balance, well… almost perfectly right (definately one to watch).

From transforming a local saving circle into a billion‑dollar digital flow, to offering tangible financial empowerment, the Money Fellows story is a reminder that innovation doesn’t always mean starting from scratch—it can also mean reinventing what was already there, and making it smarter.

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