Egyptian fintech startup ElGameya has secured a fresh seven-figure USD investment round to deepen its digitization of the traditional ROSCA (Rotating Savings and Credit Association) model and expand its financial services reach.
This round was led by AYADY for Investment and Development, with support from Jedar Capital, Cubit Ventures, Venture Notes, P-Maestro, and a group of local and international angel investors.
Launched in 2020, ElGameya is digitising a system deeply embedded in Egypt’s informal financial culture, group-based savings circles where members contribute a fixed amount regularly and take turns receiving the pooled funds.
The company’s mobile app has brought structure and ease to this traditional system, allowing users to select circle preferences such as amount, duration, and payout order. All transactions are carried out digitally, with added layers of security and transparency.
Beyond digitisation, ElGameya is positioning itself as a financing alternative for underserved communities. Its model caters to both short-term needs like school fees and weddings, as well as longer-term goals such as launching small businesses.
By allowing users to commit to affordable monthly instalments, it creates accessible pathways for capital accumulation in a country where many still lack access to conventional financial services.
According to founder and CEO Ahmed Abdeen, this investment is not only a signal of investor belief in the product but also a boost for the team’s ambition to grow both in Egypt and regionally.
Over the past year, the company has maintained consistent 50% month-on-month user growth and now serves around one million registered users.
It has also inked partnerships with over 150 companies and educational institutions to integrate its services into wider financial planning initiatives.
AYADY’s Chairman, Osama Saleh, noted that the firm’s investment aligns with its aim of supporting startups with practical solutions to societal challenges.
He highlighted ElGameya’s capacity to offer flexible savings and credit services to a broad demographic, echoing the national agenda for wider financial inclusion.
Amr Aboulazm, ElGameya’s Founding Chairman, added that the funding round is a major step towards becoming a leader in digital savings tools in Egypt and possibly beyond.
He stressed the importance of enhancing financial literacy and providing viable alternatives to traditional banking systems, especially for individuals typically excluded from them.
Hazem Kamel, Managing Director – Private Equity at NI Capital, which manages AYADY’s investment, said the decision to back ElGameya reflects confidence in the startup’s strategy, market insight, and ability to scale. He pointed to the team’s track record in executing their roadmap as a strong basis for future milestones.
From a broader perspective, this investment signals increased confidence in Egypt’s fintech sector, which has seen rising investor interest in recent years.
ElGameya stands out for applying a culturally familiar concept to address longstanding gaps in financial access, and doing so with structured growth and discipline.
In a region where informal savings still play a central role in financial behaviour, platforms like ElGameya could drive practical change by formalising what already works for many.
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