Series A · Fintech
MoneyFellows raises $4 million Series A for digital savings circles
Partech and Sawari Ventures backed expansion across Egypt and Africa.
MoneyFellows raised $4 million in Series A financing from Partech and Sawari Ventures, according to a June 22, 2020 announcement.
The Egyptian fintech digitizes rotating savings circles, allowing participants to contribute and receive pooled payouts on an agreed schedule. It planned to use the funding to expand in Egypt and across Africa and introduce new products.
Use of funds
Expand across Egypt and Africa
Launch new savings and credit products
Funding history
Series A · This round$4M