Egyptian fintech innovator MoneyFellows has raised $13 million in a pre-Series C funding round to expand its mobile-based platform that digitizes traditional money circles—locally known as “Gameya”—unlocking new pathways for savings, credit, and financial inclusion in underserved communities.

The round was led by Al Mada Ventures and DPI’s Nclude Fund, with continued support from Partech Africa and CommerzVentures, reflecting growing investor confidence in RegTech-powered peer-to-peer finance models across Africa and the Middle East.

At its core, the MoneyFellows platform reimagines Rotating Savings and Credit Associations (ROSCAs)—a communal finance system where individuals contribute fixed monthly amounts to a pooled fund, taking turns to receive the collective sum. By leveraging behavioral data, income segmentation, and proprietary credit scoring algorithms, MoneyFellows has transformed this informal savings culture into a scalable, compliant, and accessible digital finance solution.

The platform enables users to save and borrow securely without relying on traditional banks or close-knit social circles, extending the reach of financial services to those typically excluded from formal credit systems. Since launching in 2018, the company has onboarded over 8.5 million users, with an average payout of $900 per participant, marking a significant step in grassroots financial empowerment.

“We’ve managed to crack this model and achieve profitability,” said Ahmed Wadi, Founder and CEO of MoneyFellows. “What makes this even more transformative is that we’ve facilitated billions in loans without using working capital. That, in itself, is a disruptive milestone for financial technology in emerging markets.”

MoneyFellows’ growth highlights the increasing relevance of Regulatory Technology (RegTech) solutions in verifying identity, managing credit risk, and ensuring compliance within community-driven finance models. By digitizing ROSCAs, the platform not only improves transparency and trust but also aligns with financial regulators’ push for greater oversight, data protection, and KYC/AML compliance in informal savings ecosystems.

As Africa’s fintech ecosystem evolves, MoneyFellows represents a new wave of compliance-aware, tech-driven financial platforms that harness cultural norms to solve real-world challenges—enabling inclusive lending, building alternative credit histories, and fostering long-term financial resilience.