In a bold step to redefine how Egyptians access financial tools, Cairo-based fintech startup ElGameya has announced the close of a new seven-figure USD investment round, fueling its mission to digitize traditional savings circles and extend financial inclusion to underserved communities.
Led by AYADY for Investment and Development, the round also saw participation from Jedar Capital, Cubit Ventures, Ventures Notes, P-Maestro, and a cohort of local and international angel investors. The investment underscores rising interest in financial platforms that address grassroots challenges using culturally familiar models.
Bringing Technology to Tradition
Founded in 2020 by Ahmed Abdeen, ElGameya offers a mobile-first platform that digitizes the long-standing practice of ROSCA (Rotating Savings and Credit Association) — a peer-to-peer savings mechanism widely used across Egypt and other emerging economies. The model is familiar to millions but historically informal, often relying on handwritten ledgers, word-of-mouth coordination, and fragile trust.
ElGameya’s digital platform replaces these informal processes with automated, transparent, and secure savings circles. Users can choose savings amounts, payout cycles, and join circles tailored to goals such as education, weddings, healthcare, or small business financing.
“We built ElGameya to bring structure, safety, and convenience to a model that has always been at the heart of community finance,” said Abdeen, ElGameya’s founder and CEO. “This funding validates our impact so far and accelerates our ability to serve more people across Egypt who are left out of the formal financial system.”
Exponential Growth and Real-World Impact
ElGameya has grown rapidly in just under four years. The platform now boasts nearly one million registered users and has established partnerships with over 150 organizations, including corporates and educational institutions.
Its user base reflects a wide cross-section of society, from young professionals to low-income earners and informal sector workers. Many users rely on the app to fund life milestones or smooth cash flow in the absence of traditional credit access.
The startup has reported 50% month-on-month growth over the past year, showing strong demand for accessible financial alternatives.
“We’re not just digitizing a model—we’re unlocking opportunities for people who have long been excluded,” Abdeen added. “From a school teacher saving for tuition to a small business owner building inventory, ElGameya is designed to fit real lives.”
Backing from Strategic Investors
The lead investor, AYADY for Investment and Development, highlighted ElGameya’s alignment with its broader mission to enable inclusive growth. “Our investment reflects our belief that fintech must deliver practical solutions for real societal needs,” said Osama Saleh, AYADY’s Chairman and former Minister of Investment in Egypt. “ElGameya is doing just that—empowering everyday Egyptians with tools to save, plan, and build resilience.”
Amr Aboulazm, the company’s founding chairman, echoed this sentiment. “Digital ROSCAs offer more than convenience—they have the potential to build trust, promote financial literacy, and shift informal behavior into structured, scalable models,” he noted.
Hazem Kamel, Managing Director of Private Equity at NI Capital (AYADY’s investment manager), pointed out the market opportunity. “Fintech in the MENA region is booming, but the most exciting ventures are those that deeply understand local behavior. ElGameya has proven it can execute with cultural relevance and impact.”
A Platform with Continental Potential
With fresh capital in hand, ElGameya plans to expand its engineering team, enhance its user interface, and launch new savings products tailored to small businesses and women-led households. It also aims to strengthen regulatory partnerships and explore market entry into other North African and Sub-Saharan African countries.
As traditional banking continues to struggle with inclusivity, platforms like ElGameya are proving that tech-enabled community finance is not just possible—it’s essential.
“We’re not just building a fintech company,” said Abdeen. “We’re building a movement that puts trust, transparency, and empowerment in the hands of everyday
