17. MONEYFELLOWS

Crowd funding from social networks Founders: Ahmed Wadi Funding: $980,000

Investors: DAI, 500 Startups, Angel investors, Startupbootcamp Fintech London, Flat6labs

Country: Egypt Date of establishment: 2016

Moneyfellows enables users to access credit and hit their saving goals by digitizing the traditional ROSCA model, which is known as "Gameya" in the Middle East. The app creates communities of trusted peers to join saving-circles. Moneyfellows is currently used by over 350,000 users. Cash collection, e-Wallets and credit cards are among the methods that users can follow to pay and receive their money.