Money Fellows, an Egyptian fintech business, announced that it has received $31 million to extend its service offerings and grow across Africa and Asia. Led by Germany’s CommerzVentures, Middle East Venture Partners and Kuwait’s Arzan Venture Capital, this was the company’s fourth funding round since 2018.

“The partnership with “Waffarha” is a proactive step that leverages our strategy to make financial services that “MoneyFellows” provides easy and unique in a way that enables our users to actively achieve their goals through the Gam’eya module. We offer our customers opportunity to purchase what they need via Spending in Stores using their payouts.” Ahmed Wadi, CEO of MoneyFellows.