Money Fellows Secures $13 Million funding to Expand in Africa

DPI Venture Capital, the venture arm of Development Partners International, has announced a $13 million investment in Money Fellows, an African fintech company revolutionizing traditional savings and credit systems. This investment was co-led by Al Mada Ventures with participation from existing investors Partech and CommerzVentures. The recent funding brings Money Fellows' total raised capital to over $60 million, which will support platform innovation, user growth, and geographic expansion across Africa, particularly targeting Morocco. Founded in 2017 by Ahmed Wadi, Money Fellows digitizes Rotating Savings and Credit Associations (ROSCAs), a community-centered financial practice predominant in African markets. DPI's investment, conducted through the Nclude Fund, is part of its strategy to foster scalable fintech solutions rooted in local cultures, enhancing financial inclusion. The company, which boasts over 8.5 million users and $50 million in facilitated investments, is set to expand into North African markets, leveraging digital finance trends and events such as the 2025 Africa Cup of Nations.