MoneyFellows raises $13M to take its group savings model outside Egypt
MoneyFellows, a Cairo-based digital lender, has successfully lent billions of Egyptian pounds with minimal debt exposure and recently raised $13 million in a pre-Series C funding round led by Al Mada Ventures and DPI’s Nclude Fund.
MAIN POINTS
- MoneyFellows has achieved significant lending with minimal debt or balance sheet exposure.
- The company raised $13 million in a pre-Series C funding round.
- Al Mada Ventures and DPI’s Nclude Fund led the recent funding round.
- MoneyFellows is based in Cairo and stands out among African digital lenders.
TAKEAWAYS
- MoneyFellows' unique approach minimizes financial risk while enabling substantial lending.
- The recent funding round supports further growth and expansion opportunities.
- Strategic investments from prominent funds highlight confidence in MoneyFellows' business model.
- The company's success challenges traditional reliance on working capital in digital lending.