ElGameya, a Cairo-based fintech startup digitizing the culturally ingrained ROSCA (Rotating Savings and Credit Association) model, has secured a seven‑figure US dollar investment round led by AYADY for Investment and Development, with participation from Jedar Capital, Cubit Ventures, Venture Notes, P‑Maestro, and a mix of local and international angel investors .
Founded in 2020 by entrepreneur Ahmed Abdeen, ElGameya offers a mobile platform enabling users to create or join customizable savings circles—selecting the contribution amount, cycle duration, and payout schedule. The app ensures transparency and secure transactions, appealing to Egyptians seeking more trustworthy alternatives to traditional, cash-based ROSCAs.
The startup also provides access to financing options for both short-term needs like school fees and long-term goals such as entrepreneurship, making it a versatile financial tool for underserved communities.
ElGameya has grown rapidly, achieving sustained 50% month-on-month user growth, amassing nearly 1 million registered users, and forging partnerships with over 150 organizations—including schools and companies that use the platform for community savings initiatives.
The newly secured seven-figure capital is earmarked for: Scaling product capabilities and expanding reach across Egypt—and potentially the wider MENA region and Deepening innovation in digital financial services including flexible savings, lending solutions, and community-oriented tools.
Ahmed Abdeen, Founder & CEO of ElGameya said:
“We are thrilled to close this successful funding round… a strong vote of confidence in our vision. Having high‑calibre investors like AYADY onboard empowers us to accelerate our expansion and deliver accessible, innovative financial tools to more people across Egypt and beyond” .
Osama Saleh, Chairman of AYADY said:
“Our investment in ElGameya aligns with our commitment to supporting startups that leverage technology to meet real societal needs… capable of empowering large segments of the Egyptian population with reliable, flexible savings and credit solutions”.
Amr Aboulazm, Founding Chairman of ElGameya said:
“This funding round marks a pivotal step in our journey to establish ElGameya as a market leader in digital savings solutions in Egypt & the region”.
Hazem Kamel, Managing Director – Private Equity at NI Capital (investment manager for AYADY) said:
“Our investment in ElGameya reflects our strategic focus on backing high-potential fintech startups that can deliver innovative solutions and real economic impact”.
This investment underscores the surge in fintech innovation across the Middle East and North Africa, reflecting rising investor interest in platforms that promote financial inclusion. ElGameya stands out by leveraging digital ROSCAs to bring community-based savings tools to new generations and demographics.
ElGameya’s successful closing of a seven-figure funding round signals strong investor confidence in its model—modernizing grassroots finance through technology. With momentum behind it—including rapid growth and major strategic backing—the startup is well-positioned to deepen financial inclusion in Egypt and potentially replicate its community savings platform across the region.
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