Money Fellows Raises $13M in Strategic Funding to Enhance Financial Inclusion in Africa

Source: Zawya

Money Fellows, Africa’s leading fintech digital platform, has successfully raised $13 million in this new financing round. This strategic extension brings the total amount invested in the company to over $60 million since its inception. The new investment aims to enhance and upgrade the company’s digital platform, especially as its user base expands to over 8.5 million users and it continues to collaborate with more than 350 local and regional partners.

This new round of investment is co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, with notable contributions from Partech, and CommerzVentures, all of which are dedicated to driving innovation across emerging markets. This investment is set to support the company’s expansion into new markets and drive a major shift in traditional methods of saving, borrowing, and investing by digitizing these services and delivering them in a modern, secure way. The goal is to advance financial inclusion and enable millions of individuals to access innovative and efficient financial services.