THE MIDDLE EAST’S

31. Money Fellows

Description: Digitized ROSCA system
Headquarters: Egypt
Date of Establishment: 2016
Founder: Ahmed Wadi

Money Fellows digitizes money circles or rotating savings and credit associations, widely known as “Gameya” in Arab countries. The company’s app had been downloaded over four million times as of December 2023, with the platform having grown six times between 2022 and 2023. In October 2022, the company raised $31 million in a Series B funding round led by CommerzVentures, MEVP, and Arzan Venture Capital.