Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, has partnered with Money Fellows, the leading money circles app, to power a new solution that will leverage its best-in-class payment functionality.
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. 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 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.”
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About Network International
Network International is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,000+ employees based in our markets serving over 250 financial institutions and 130,000+ merchants.
About Money Fellows
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. From the outset, the company’s mission has aligned with the government’s strategy for enhancing financial literacy and inclusion, and it was the first of its kind to operate under the supervision of the Central Bank of Egypt’s Regulatory Sandbox.
Money Fellows’ impressive growth and innovative approach have inspired significant trust and confidence among investors, securing the company a total of $45M in investment to date.
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