Money Fellows announced a $13 million pre-Series C funding round in May 2025, saying it would use the money to upgrade its platform and expand into new markets, particularly Morocco. The planned Morocco launch was reported as a future goal in 2025; the available reporting does not confirm that it subsequently took place.
What Money Fellows announced in May 2025
TechCrunch reported on May 4, 2025, that the round was co-led by Al Mada Ventures and DPI’s Nclude Fund, with participation from Partech Africa and CommerzVentures. TechCrunch said the financing brought the company’s total funding to just over $60 million. TechCrunch’s report and Money Fellows’ May 5 announcement both described the new round as $13 million and total investment as more than $60 million.
Money Fellows said it would put the funding toward platform upgrades and expansion, particularly into Morocco. TechCrunch reported that the company planned to launch there by the end of 2025 and was considering other African and South Asian markets. That was a plan reported in 2025, not confirmation of a completed launch.
What is a ROSCA, or money circle?
A rotating savings and credit association (ROSCA) is a group savings arrangement. Members contribute an agreed amount regularly to a shared pool, and one member receives the pooled contributions in each cycle until everyone in the group has had a turn.
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For illustration, TechCrunch described a hypothetical group of ten people contributing monthly, with one member receiving the pool each month. That example explains the rotating mechanism; it is not a reported Money Fellows customer statistic.
How Money Fellows digitizes the circle
Money Fellows uses an app to organize money circles and match participants. According to TechCrunch, the company generally matches people who want to save and receive a later payout with people who want to borrow and receive an earlier payout. It uses behavioral data, credit scores, and income tiers in that matching process.
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The operator does not necessarily supply every payout from its own funds. TechCrunch reported that Money Fellows may fill a slot with its own working capital when a circle lacks a participant. CEO Ahmed Wadi estimated that the company had to step in for 7–8% of active ROSCA slots. That is his 2025 estimate as reported by TechCrunch, not an independently audited rate.
Why expansion to Morocco is not just an app rollout
A circle depends on participants contributing on schedule and accepting the payout order. The platform must match people whose preferences and ability to pay fit together, keep multiple circles balanced in real time, and manage the possibility of missed payments or participants dropping out. TechCrunch quoted Wadi saying, “Cracking the model took longer than we thought.”
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These operational demands help explain why the model may not transfer automatically from one country to another. The company needs enough suitable participants to form balanced circles, while also adapting its matching and risk management to each market. Money Fellows identified Morocco as a target, but the 2025 reporting does not establish that it launched there or explain the precise regulatory and operational requirements it would face in that country.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the company said about its scale and profitability
In its May 2025 announcement, Money Fellows said it had more than 8.5 million users and more than 350 local and regional partners. Those are company-reported figures, not independently verified user or partner counts.
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TechCrunch also reported Wadi’s statement that the company had “managed to crack this model and reach profitability.” This is the CEO’s claim as reported in 2025; the cited reporting does not independently verify profitability or specify its accounting basis.
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