Cairo, Egypt – ElGameya, Egypt’s leading fintech platform digitizing the traditional ROSCA savings model, announced the successful closing of a new 7-figure USD investment round aimed at accelerating the development of its technology platform.
Led by AYADY for Investment and Development, the funding round saw participation from prominent investors including:
- Jedar Capital
- Cubit Ventures
- Venture Notes
- P-Maestro
- Along with a group of local and international angel investors.
Founded in 2020, ElGameya aims to modernize and simplify the culturally-rooted ROSCA (Rotating Savings and Credit Association) model, an integral part of financial culture in Egypt and other countries.
Through its user-friendly app, ElGameya enables users to join various saving circles, select their preferred amounts, durations, and payout schedules, while ensuring security and transparency.
ElGameya offers flexible financing solutions addressing diverse community segments, targeting short and long-term goals such as education, marriage, or launching small businesses, via affordable monthly installments.
Ahmed Abdeen, Founder & CEO, commented:
“We are thrilled to close this funding round which represents a strong vote of confidence in our vision and business model.
Partnering with AYADY empowers us to accelerate expansion and provide innovative, accessible financial services across Egypt and beyond.”
He added, “Over the past year, we’ve achieved sustained 50% monthly growth with approximately one million users and formed strategic partnerships with over 150 companies and schools.”
Osama Saleh, Chairman of AYADY, stated:
“Our investment supports startups leveraging technology to meet societal needs. We see ElGameya as a model capable of enhancing financial inclusion and sustainable economic growth.”
Amr Aboulazm, Founding Chairman, added:
“We’re proud of the trust from our investors, marking a pivotal step towards establishing ElGameya as a market leader in digital savings solutions in Egypt and the region.”
Hazem Kamel, Managing Director at NI Capital (investment manager of AYADY), said:
“Our investment reflects our strategic focus on backing promising fintech startups delivering real economic impact. We look forward to ElGameya’s continued success.”
This investment comes amid rapid fintech sector growth in the MENA region, positioning ElGameya as a standout Egyptian startup driving innovation and impact.
