{"id":44517,"date":"2025-05-05T12:08:04","date_gmt":"2025-05-05T09:08:04","guid":{"rendered":"https:\/\/entarabi.com\/?p=44517"},"modified":"2025-05-05T12:54:31","modified_gmt":"2025-05-05T09:54:31","slug":"money-fellows-raises-13-million-in-strategic-funding-to-enhance-financial-inclusion-in-africa","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2025\/05\/money-fellows-raises-13-million-in-strategic-funding-to-enhance-financial-inclusion-in-africa\/","title":{"rendered":"Money Fellows Raises $13 Million in Strategic Funding to Enhance Financial Inclusion in Africa"},"content":{"rendered":"<ul>\n<li dir=\"ltr\" style=\"text-align: left;\"><strong>Ahmed Wadi: The New Funding is a Key Step Toward Platform Development and Expanding Our Services to Millions Across Africa<\/strong><\/li>\n<li dir=\"ltr\" style=\"text-align: left;\"><strong>Round led by Al Mada Ventures, DPI, and a Group of Prominent Investors to Empower Entrepreneurs in Africa<\/strong><\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"text-align: left;\"><strong>Money Fellows<\/strong>, a<strong> digital fintech platform<\/strong>, has <strong>raised $13 million<\/strong> in a <strong>new funding round<\/strong>, bringing its total funding to over <strong>$60 million<\/strong> since its inception.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">This round aims to enhance and upgrade the<strong> company\u2019s digital platform<\/strong>, especially as its user base has grown to over<strong> 8.5 million users<\/strong>, in collaboration with more than<strong> 350 local and regional partners.<\/strong><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The round was led by<strong> Al Mada Ventures (AMV)<\/strong> and<strong> DPI<\/strong> through the <strong>Nclude Fund<\/strong>, with participation from notable investors such as Partech and<strong> CommerzVentures<\/strong>, all of whom are committed to fostering innovation in emerging markets and empowering <strong>African entrepreneurs.<\/strong><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The investment is set to support the company&#8217;s expansion into new markets and revolutionize traditional saving, borrowing, and investment methods through digitization\u2014contributing to financial inclusion and enabling millions of individuals to access innovative and efficient <strong>financial services<\/strong>.<\/p>\n<h2 dir=\"ltr\" style=\"text-align: left;\">Executives\u2019 Statements<\/h2>\n<p dir=\"ltr\" style=\"text-align: left;\"><strong>Ahmed Wadi, Founder and CEO of Money Fellows, stated:<\/strong><\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cMoney Fellows is a key player in Africa\u2019s fintech ecosystem, combining the power of community-based savings with cutting-edge technology to deliver seamless and scalable solutions.<\/p>\n<\/blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u00a0He add:&#8221; We believe the <strong>future of finance in Africa<\/strong> lies in innovation.&#8221;<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">&#8220;This <strong>funding<\/strong> is a strong vote of confidence in our<strong> business model and mission<\/strong>\u2014to empower individuals, especially in underserved regions, to save, invest, and access financing in a secure and efficient way.\u201d<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><strong>Omar Laalej, Managing Director at AMV, said:<\/strong><\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cAt AMV, we are committed to supporting ambitious companies with long-term impact. Money Fellows has enormous potential, especially as it expands into new markets like Morocco, where digital financial services are rapidly growing&#8221;.<\/p>\n<\/blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">He said: &#8220;We\u2019re excited to support their mission to make finance accessible to all.\u201d<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><strong>Mohamed Alaa El-Din, General Partner at DPI Venture Capital, commented:<\/strong><\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cWe believe that the future of financial services in Africa lies in innovation, and Money Fellows is leading this transformation by modernizing traditional savings systems&#8221;.<\/p>\n<\/blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u00a0He add: &#8220;We are proud to partner with a company that has such a bold vision, and we look forward to seeing its impact across the Middle East and Africa.\u201d<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><strong>Cyril Collon, General Partner at Partech, said:<\/strong><\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cWe are delighted to support Money Fellows and their efforts in delivering top-tier digital financial services to broader segments of Africa\u2019s population&#8221;.<\/p>\n<\/blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">&#8220;Their platform is uniquely positioned to blend traditional savings habits with modern tech to promote large-scale financial inclusion.\u201d<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><strong>Patrick Meisberger, Managing Partner at CommerzVentures, added:<\/strong><\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cThe transformative impact that Money Fellows is making by digitizing traditional savings practices is exactly the kind of innovation we aim to back&#8221;<\/p>\n<\/blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">&#8221; By reshaping how people in Africa manage their finances, Money Fellows isn\u2019t just helping them save\u2014it&#8217;s helping them <strong>transform<\/strong> their lives.\u201d<\/p>\n<h2 dir=\"ltr\" style=\"text-align: left;\">About Money Fellows<\/h2>\n<p dir=\"ltr\" style=\"text-align: left;\">Founded in 2017 by entrepreneur<strong> Ahmed Wadi<\/strong>, <strong>Money Fellows<\/strong> was established to<strong> digitize traditional ROSCA<\/strong> (<strong>Rotating Savings and Credit Associations<\/strong>) systems\u2014a widely practiced f<strong>inancial habit<\/strong> across <strong>Africa<\/strong>.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The<strong> digital platform<\/strong> enables users to <strong>save<\/strong>, <strong>invest<\/strong>, and <strong>access financing<\/strong> in a secure and transparent manner via a <strong>mobile application<\/strong>.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">To date, <strong>Money Fellows<\/strong> has served over<strong> 250,000 active<\/strong> users, facilitating investments worth over <strong>$50 million<\/strong>.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">With major upcoming events such as the <strong>2025 Africa Cup of Nations<\/strong> and the <strong>2030 FIFA World Cup<\/strong>, the adoption of digital<strong> financial services<\/strong> is expected to accelerate.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><strong>Money Fellows<\/strong> is preparing to expand into <strong>North African markets<\/strong>\u2014especially <strong>Morocco<\/strong>, which represents a promising opportunity in this sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Money Fellows, a digital fintech platform, has raised $13 million in a new funding round, bringing its total funding to over $60 million since its inception.<\/p>\n","protected":false},"author":11,"featured_media":44514,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810],"tags":[8118,8121,8119,8123,8117,8120,8122],"class_list":["post-44517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-al-mada-ventures-amv","tag-commerzventures","tag-dpi","tag-mohamed-alaa-el-din","tag-money-fellows","tag-nclude-fund","tag-omar-laalej"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/44517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=44517"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/44517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/44514"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=44517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=44517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=44517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}