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Money Fellows - Series B
Overview
Funding Date
October 31, 2022
Financing amount
$31M
Valuation
--
Catagory
Subcategory
About Money Fellows - Series B
Egyptian FinTech company Money Fellows has raised $31 million to diversify its portfolio of services and expand across Africa and Asia.
The series B round, its fourth funding round since 2018, was led by Germany's CommerzVentures, Middle East Venture Partners and Kuwait's Arzan Venture Capital. South Africa's Invenfin and Kuwait's National Investments Company, as well as existing investors, such as ParTech, Egypt's Sawari Ventures, Africa-focused 4DX Ventures and P1Ventures also participated in the round.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | Germany | 2014 | 4 | info@commerzventures.com | ||
| Fund | Emirate of Dubai | -- | 1 | -- | ||
| Fund | Kuwait | -- | 1 | -- | ||
| Corporate | Unknown | -- | 1 | -- | ||
| Corporate | Unknown | -- | 1 | -- | ||
| Fund | France | 1982 | 4 | media@partechpartners.com | ||
| Fund | Unknown | -- | 1 | -- | ||
| Fund | Ghana | 2017 | 2 | -- | ||
| Fund | United States of America | -- | 3 | -- |
Founders & Team
Ahmed Wadi
Company Profile / Project Introduction
Money Fellows is a collaborative Group Lending and Savings Platform. It is a trusted and more convenient way of finding and managing Money Circles online, by digitizing the traditional, informal offline ROSCA (Rotating Savings and Credit Association) Model, allowing users to meet their financial and saving needs.