Series B first close · Fintech
MoneyFellows closes $31 million first tranche of Series B
CommerzVentures, MEVP and Arzan Venture Capital led the financing.
MoneyFellows announced the first close of its Series B on October 30, 2022, securing $31 million in equity financing led by CommerzVentures, MEVP and Arzan Venture Capital.
Invenfin and National Investment Company joined existing investors Partech, Sawari Ventures, 4DX Ventures and P1 Ventures.
The company planned to broaden its digital savings and credit services and expand across Africa and Asia. Its app organizes rotating savings circles beyond users’ immediate social networks.
Use of funds
Expand digital savings products and international markets
Funding history
Series B first close · This round$31M
Series A$4M