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MoneyFellows raises $13M to take its group savings model outside Egypt | TechCrunch

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Summary
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83% Informative

Cairo -based fintech firm MoneyFellows has raised $13 million in a pre-Series C round.

The startup lends billions of Egyptian pounds with almost no debt or balance sheet exposure.

Since launching in 2018 , the platform has grown to over 8 million users, up from 45 million at its last milestone.

MoneyFellows plans to launch in Morocco by year-end .

The eight-year-old fintech will compete with other Egyptian digital banks like Lucky , Khazna , and Telda .

The company plans to introduce investment, payroll, insurance and remittance products down the line.

VR Score

84

Informative language

83

Neutral language

64

Article tone

semi-formal

Language

English

Language complexity

52

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not offensive

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not hateful

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not detected

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long-living

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