Egyptian fintech startup Money Fellows has surpassed 8 million registered users since launch, with around 350,000 monthly active customers and 1.2 million customers having used its services, founder and CEO Ahmed Wady said at Techne Alexandria 2026.
Speaking during a session on how startups are reshaping financial services, Wady said the company is targeting markets where the traditional savings-circle model is widely used. Money Fellows is developing a digital version of the model to make it easier and more efficient for customers.
The company is already expanding into Morocco through a partnership with Attijariwafa Bank. Wady said strong local partnerships are central to Money Fellows’ approach, particularly in financial services, where market conditions, regulation and customer needs vary across countries.
He also stressed that fintech startups must balance rapid growth with governance and risk management. Partnerships with banks can provide more than commercial value, he said, helping startups build the capabilities needed to manage larger transaction volumes and customer bases.
Wady added that partnerships should define responsibilities, success metrics and potential outcomes from the outset. In his view, gradual growth aligned with stronger operating systems and risk controls can help fintech companies scale more sustainably while limiting the impact of mistakes as their businesses expand.
Source: Fintech Gate
