Network International to power new Money Fellows offering in Egypt

By Gloria Methri

Network International has partnered with Money Fellows, the money circles app, to power a new solution that will leverage its payment functionality.

Operating since 2018, Money Fellows has attracted over 7 million users with its innovative approach that simplifies the traditional process and promotes users’ financial well-being with easy, flexible, and secure Money Circles.

Under the partnership, Network will provide Money Fellows with its ‘Digital Payments-as-a-Service’ platform with value-added services, including advanced fraud prevention, fully secure payment functionality, as well as a full suite of back office managed services. This platform will enable Money Fellows to enhance the app’s versatility and user experience.

The partnership comes as Money Fellows solidifies its position in digital savings and peer-to-peer financial solutions. The app, known for digitising traditional money circles (commonly known as ROSCAs), now aims to extend its influence across MEA markets.

Utilising its pan-regional experience, Network will support Money Fellows’ expansion across the Middle East and Africa region.

Dr. Reda Helal, Group Managing Director – Processing, Africa & Co-Head of Group Processing at Network International, said, “We are pleased to partner with Money Fellows to enhance their market offerings and competitiveness while supporting the company’s expansion into new markets in the Middle East and Africa. This collaboration signifies a major milestone in the FinTech sector in the country that is currently experiencing rapid growth, aligning with the Egypt National Vision 2030 plan.”

Ahmed Wadi, CEO & Co-Founder of Money Fellows, said, “We are thrilled to collaborate with Network International on this significant milestone for our company. We are taking this step with confidence, knowing we have the right partner in Network International to ensure the payment functionality and security that our users deserve. This launch marks a pivotal moment in our journey, reinforcing our leadership position in the market and setting the stage for our regional expansion.”