22. MoneyFellows *

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

MoneyFellows digitizes money circles or rotating savings and credit associations (ROSCA), widely known as “Gameya” in Arab countries. The total value of money circles digitized by MoneyFellows quadrupled in 2022 compared to 2021. The MoneyFellows app had been downloaded 4.2 million times with 332,000 active users as of December 2022. In October 2022, the company raised $31 million in a Series B funding round, bringing its total funding to date to $38 million.