{"id":664737,"date":"2025-05-06T00:00:00","date_gmt":"2025-05-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/06\/money-fellows-secures-usd-13-mn-in-latest-round\/"},"modified":"2025-05-06T00:00:00","modified_gmt":"2025-05-06T00:00:00","slug":"money-fellows-secures-usd-13-mn-in-latest-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/06\/money-fellows-secures-usd-13-mn-in-latest-round\/","title":{"rendered":"Money Fellows secures USD 13 mn in latest round"},"content":{"rendered":"

Local fintech startup <\/strong>Money Fellows<\/a><\/strong> raised USD 13 mn in a new funding round<\/strong>, bringing the company\u2019s total funding to USD 60 mn, the company said in a statement (pdf)<\/a>. The investment was secured in a pre-series C round, according to TechCrunch<\/a>. The round follows the company\u2019s USD 31 mn series B funding round<\/a> closed in 2022.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The backers: <\/strong>The round was led by Al Mada Ventures<\/a> and VC fund Nclude. It also drew investments from existing investors Partech<\/a> and CommerzVentures<\/a>.<\/p>\n

Money Fellows will use the funds to support its expansion into new markets<\/strong>, including Morocco \u2014 where the company plans to launch by year-end, according TechCrunch. The company is also exploring comparable markets in Africa and South Asia.<\/p>\n

Scaling up the platform is on the agenda: <\/strong>Money Fellows plans to upgrade its digital platform to support its growing user base of over 8.5 mn users. This includes rolling out investment, payroll, ins., and remittance products at a later stage, according to the news outlet.<\/p>\n

REMEMBER- <\/strong>Money Fellows earlier this year launched<\/a> a new prepaid card for collaborative lending associations or \u201cmoney circles\u201d in collaboration with Banque Misr and Mastercard.<\/p>\n

What does MoneyFellows do exactly?<\/strong> MoneyFellows creates digital rotating savings and credit associations (ROSCAs) \u2014 known in the region as a gameya \u2014 using a scoring model, as a way to offer peer-to-peer, no-interest lending. The members of each circle commit to paying an installment into a pool every month, with a different member taking the whole pool as a payout each month. <\/p>\n

More funds are coming in 2026<\/strong>, according to TechCrunch, which reports that a \u201cmuch larger series C round\u201d is slated for next year.<\/p>\n

\n

FORAS SNAGS 10% STAKE IN UAE-BASED CANATER-<\/p>\n

AI-focu<\/strong>sed<\/strong> investment firm<\/strong> Foras acquired a 10% stake in UAE-based logistics and <\/strong>supply chain startup Canater in a USD 1 mn transaction<\/strong>, a press release<\/a> reads. The investment will help Canater solidify its position in the market, broaden its service offerings to more industries, and enhance its digital platform to \u201coffer a more comprehensive and seamless experience for its clients.\u201d <\/p>\n

What they said:<\/strong> \u201cOur investment in Canater reflects our confidence in its leadership team and their ambitious vision to empower local companies to compete on an international scale,\u201d Foras CEO Mohamed Aboulanaga said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funds will support the company\u2019s entry into new markets and help upgrade its digital platform<\/p>\n","protected":false},"author":1,"featured_media":664738,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,340,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-664737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-moneyfellows","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"9aac9a8e-5bdc-4156-bfeb-41e5899b65c1","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/351.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Money Fellows secures USD 13 mn in latest round","related_issue":[664721],"teaser":"The funds will support the company\u2019s entry into new markets and help upgrade its digital platform","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.041b8fce-08d5-4978-8b08-3148ecc0949b.mp3"},"yoast_head":"\nMoney Fellows secures USD 13 mn in latest round - 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The tech news site came to this conclusion after CEO Mounir Nakhla told Wired that the company has raised USD 20 mn to date. Given that we know\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574722,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/20\/elves-raised-usd-2-mn-from-sawari-ventures-in-latest-funding-round\/","url_meta":{"origin":664737,"position":1},"title":"Elves raised USD 2 mn from Sawari Ventures in latest funding round","author":"enterpriseam admin","date":"20 September 2020","format":false,"excerpt":"STARTUP WATCH- AI startup Elves raised USD 2 mn from Sawari Ventures and other unnamed investors in the follow-on investment we noted last week, according to Menabytes. The value of the investment had not been disclosed at the time. The digital assistance platform has now raised nearly USD 5 mn\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":550058,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/12\/vezeeta-raises-undisclosed-round-isupply-raises-usd-1-5-mn-pre-seed\/","url_meta":{"origin":664737,"position":2},"title":"Vezeeta raises undisclosed round + i\u2019Supply raises USD 1.5 mn pre-seed","author":"enterpriseam admin","date":"12 October 2022","format":false,"excerpt":"Pharma startups big and small got a shot in the arm yesterday, as Egypt-born Vezeeta and local newcomer i\u2019Supply both scored fresh funding rounds. Vezeeta closes undisclosed round: Digital healthcare platform Vezeeta has raised an undisclosed amount from existing investors Abu Dhabi-based Gulf Capital and Swedish VNV Global, it said\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/201.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572354,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/22\/egyptian-fintech-startup-moneyfellows-raises-usd-4-mn-in-series-a-round\/","url_meta":{"origin":664737,"position":3},"title":"Egyptian fintech startup MoneyFellows raises USD 4 mn in series A round","author":"enterpriseam admin","date":"22 June 2020","format":false,"excerpt":"STARTUP WATCH- Egyptian fintech startup MoneyFellows has raised USD 4 mn in series A funding from Sawari Ventures and Partech, according to an emailed statement (pdf). MoneyFellows plans to use the funds to finance its expansion in Africa, as well as the roll-out of a \u201cslew of new products in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555147,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/","url_meta":{"origin":664737,"position":4},"title":"Delivery startup Appetito raises USD 2 mn pre-seed funding","author":"enterpriseam admin","date":"3 November 2021","format":false,"excerpt":"Cairo-based grocery delivery startup Appetito has raised USD 2 mn in pre-series A funding, the company said in a statement (pdf) last night. The round was led by US VC firm Jedar Capital and featured participation from Ghanaian investment company Golden Palm Investments, Africa-focused VC DFS Lab and a number\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/305.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592977,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/13\/uae-based-trucking-network-trukker-plans-to-enter-egypt-before-end-of-2019\/","url_meta":{"origin":664737,"position":5},"title":"UAE-based trucking network Trukker plans to enter Egypt before end of 2019","author":"enterpriseam admin","date":"13 November 2019","format":false,"excerpt":"STARTUP WATCH- UAE-based trucking network Trukker is to expand into the Egyptian market before the year is out, CEO Gaurav Biswas tells Bloomberg. Biswas was tight-lipped on additional details, including expected investments and the exact timeline for the company\u2019s expansion to Egypt. Trukker has just raised a USD 23 mn\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=664737"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664737\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/664721"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/664738"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=664737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=664737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=664737"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=664737"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=664737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}