MoneyFellows

Money Fellows is a collaborative Group Lending and Savings Platform. It is a trusted and more convenient way of finding and managing Money Circles online, by digitizing the traditional, informal offline ROSCA (Rotating Savings and Credit Association) Model, allowing users to meet their financial and saving needs.

ROSCAs are found in over 90 countries worldwide, with a variety of names, such as ‘Gam’eya’​ in the Arab World, ‘Chit Funds’​ in India, ‘Tandas’​ in Mexico and ‘Committees’​ in Pakistan. Money Fellows combines Saving and Credit by establishing Money Circles for users to participate in:

Based on a user’s Money Fellows Credit Score they can search and find a suitable Money Circle to join.

The Money Circle begins and all users pay a matching monthly installment, for a pre-defined number of months, placed in a common pot.

Each month, one member receives the total money in the common pot, until all members have received their Payout once, ending the Money Circle.