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Egyptian Fintech, Money Fellows, Surpasses 8 Million Users, Achieves $1.5 Billion In Transactions
Egyptian fintech company Money Fellows has just hit a big milestone. They now have over 8 million users, and since they started, people have finished more than 2 million savings groups. This is a huge achievement and shows how much the platform has grown in Egypt’s financial scene. Not only that, but they’ve also processed over $1.5 billion in transactions, which is a lot of money moving through their platform.
Money Fellows took a traditional way of saving called RoSCA, or Rotating Savings and Credit Associations, and turned it into a digital service that’s safe, simple, and easy to use. RoSCA is a popular way in Egypt where groups of people save money together, and each person gets a turn to take out the pooled funds. Now, thanks to Money Fellows, this old method has gone digital, making it easier for regular people to save money and access loans without worries.
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What makes Money Fellows stand out is that it’s the first Egyptian platform to give users a full experience. You can join savings groups online, save smart with special solutions, and even get a prepaid card — all in one place. They teamed up with Banque Misr, one of Egypt’s biggest banks, and work under the rules of the Central Bank’s FinTech Regulatory Sandbox to make sure everything is safe and legit. With this setup, users can send and receive money, pay bills, or get cash using bank cards, e-wallets, or the Money Fellows prepaid card. And the best part? There are no service fees.
Every month, about 350,000 people are active on the platform. Over 50,000 prepaid cards have been issued so far, and the company has made partnerships with hundreds of businesses and institutions across Egypt. It also has more than 40 points where people can pick up or send money, making it easy for users to stay connected no matter where they are.
All this activity adds up to over $1.5 billion in transactions. That’s a sign of real trust and strong growth. Money Fellows has attracted more than $60 million from investors, both local and international, showing that the company is here to stay and expand even more.
Ahmed Wadi, the founder and CEO, said they truly believe technology can help people and create fairer financial chances for everyone. He explained that their goal is to give people simple and trustworthy ways to save and get loans. “Our services are designed to help people save money, pay bills, and access financing easily and transparently,” he said. Wadi is proud that the company has become profitable, meaning it makes enough money to keep growing and improving.
He also shared that Money Fellows is working hand in hand with Egypt’s push for digital growth and financial inclusion — making sure more people can participate in the economy. To him, success isn’t just about numbers but about how many lives they’ve helped improve. They want to change the way traditional financial systems work by creating a safe, organized digital solution that makes saving and borrowing hassle-free.
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One of the hottest features is the Money Fellows prepaid card. It lets users deposit money, withdraw cash, and make payments without extra charges. Plus, they get cashback and discounts at major stores, which makes everyday transactions easier and more rewarding. This really helps more Egyptians take part in digital finance and feel confident managing their money online.
Putting it all together, Money Fellows has changed how Egyptians save and handle money. With over 8 million users and $1.5 billion in transactions, they’re making finance safer and more accessible for everyone. Their mission is to keep growing and helping more people, turning traditional ways of saving into modern, trusted digital solutions that work for real life.
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