- Egypt-based fintech ElGameya has raised a 7-figure USD investment round led by AYADY for Investment and Development. Other participants include Jedar Capital, Cubit Ventures, Ventures Notes, P-Maestro, and a group of local and international angel investors.
- Founded in 2020 by Ahmed Abdeen, ElGameya offers a mobile app that enables users to join savings circles with customisable terms while ensuring transaction security and transparency.
- The funding will be used to scale ElGameya’s reach and product innovation, deepening its impact on underserved communities.
- In 2020, ElGameya closed a six-figure investment in a pre-seed round led by AUC Angels, with participation from Cairo Angels and Alex Angels.
ElGameya, Egypt’s leading fintech platform digitising the traditional ROSCA savings model, today announced the successful closing of a new 7-figure USD investment round, aiming to accelerate the development of its technology platform.
The round was led by AYADY for Investment and Development, with participation from prominent investors, including Jedar Capital, Cubit Ventures, Venture Notes, P-Maestro, and a group of both local and international angel investors.
Founded in 2020, ElGameya aims to modernise and streamline the culturally rooted ROSCA (Rotating Savings and Credit Association) model, which is an integral part of the financial culture in Egypt and many other countries. Through its user-friendly mobile app, the company enables individuals to join diverse circles and choose their preferred amount, duration, and convenient payout turn while ensuring security and transparency in all transactions.
It also offers flexible solutions for obtaining financing and targets meeting the financial needs of various segments of society by providing associations designed to suit the needs of diverse segments of the community, whether for short-term or long-term goals such as education, marriage, or launching a small business with affordable monthly instalment plans.
Ahmed Abdeen, Founder & CEO of ElGameya, commented: “We are thrilled to close this successful funding round, which serves as a strong vote of confidence in our vision and business model. 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. We believe fintech has the power to transform lives, and ElGameya is determined to be at the forefront of that transformation.”
“Over the past year, the company has achieved sustained 50% month-on-month growth, with roughly one million registered users. We have also formed strategic partnerships with more than 150 companies and schools, all of which benefit from our services,” added Abdeen.
Osama Saleh, Chairman of AYADY For Investment & Development, stated:“Our investment in ElGameya aligns with our commitment to supporting startups that leverage technology to meet real societal needs. We see ElGameya as a standout model capable of empowering large segments of the Egyptian population with reliable, flexible savings and credit solutions. This resonates with our broader mission to promote financial inclusion and sustainable economic growth.”
Amr Aboulazm, Founding Chairman of ElGameya, added: “We are proud to have earned the trust of such an esteemed group of investors. 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. We believe digital ROSCAs have a vital role to play in enhancing financial literacy and expanding access to safe, adaptable savings and credit tools, especially for those who remain excluded from traditional financial systems.”
Hazem Kamel, Managing Director – Private Equity at NI Capital (the investment manager of AYADy), commented: “Our investment in ElGameya reflects our strategic focus on backing high-potential fintech startups that can deliver innovative solutions and real economic impact. The ElGameya team has demonstrated deep market insight and the ability to execute. We look forward to seeing them achieve even greater milestones in the future.”
This investment underscores a fintech opportunity on the rise at a time when the fintech sector across the Middle East and North Africa is witnessing unprecedented growth and increasing investor interest. ElGameya stands out as a strong example of an Egyptian startup leveraging this momentum to drive meaningful innovation and scale impact.