Moneyfellows

Moneyfellows helps individuals access interest free credit and better saving achievements, all fully powered by just their social network.

  • Stage Prototype Ready
  • Industry Financial Services
  • Location London, United Kingdom
  • Currency GBP
  • Founded August 2014
  • Employees 5
  • Incorporation Type LLC
  • Website moneyfellows.com

Company Summary

Moneyfellows digitizes the traditional Offline ROSCA model. ROSCAs is very common in over 89 countries and is 2000 years old.
ROSCA has an offline market size of €306 billion globally.
ROSCA = Rotating saving and credit association

How it works:
- Families, friends and communities joins together in a “money circle” to contribute a fixed monthly installment into a common pot.
- Each month, one of those members receives the total amount in the common pot as a payout.
- When each participant has received a payout from the common pot, the circle closes.
- Depending on the wishes of the members they are free to renew the circle again or start a different circle.

People towards the beginning of the circle are receiving an interest free credit and those towards the end of the circle are forcing themselves to save, while helping out friends reach their financial goals. Savers on Moneyfellows also get offers and discounts from our commercial partners of up to 10% off from Amazon, Ebay, Apple and many more coming soon.

Team

  • Ahmed Wadi
    CEO

    Computer engineer and founder of 2 previous startups.
    1: Object tracking software that contributed to Microsoft's gesture tracking software back in 2005.
    2: First online Egyptian supermarket.

  • Rama ElTohamy
    Lead designer

    Graphic designer with over 12 years of management experience

  • Sherif Fawzy
    CMO

    Over 14 experience in Digital marketing, go to market strategies, customer acquisition and analytics. Founder of Otaku Dev (Marketing agencies with clients like Vodafone & Peugeot.

  • Ahmed Hany
    Senior software engineer and lead developer.

    Fullstack developer with over 12+ years of Web and mobile based programming experience including Software Engineer at Robusta Studio, lead developer at Unplugged Web Desig, Web Developer at Heisenburg and Communication Coordinator at Carlson Rezidor Hotel Group.

Previous Investors

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