Egypt’s ElGameya Raises Seven-Figure Investment to Digitise Traditional Savings Circles

Editorial Team

Last updated 21-05-2025

2 min

ElGameya secures major funding to expand its digital savings solutions in Egypt.

The funding round was led by Ayady for Investment and Development with several venture firms.

ElGameya digitises traditional Egyptian savings groups, making them more accessible via an app.

This initiative supports those without easy access to mainstream banking services.

It's a modern twist on cultural practices, enhancing trust and community bonds.

There's a fresh story from Egypt that's been making waves in the financial scene: the startup ElGameya has just secured a significant seven-figure dollar investment to expand its digital savings solutions across the country.

Led by Ayady for Investment and Development, this latest funding round saw participation from a handful of prominent venture capital firms, including Jedar Capital, Cubit Ventures, Venture Notes and PMaestro, alongside a group of angel investors keen on backing promising fintech ideas.

ElGameya, established by Ahmed Abdeen in 2020, aims to digitise the traditional Egyptian "money circles"—known locally as "gameya". If you're not familiar with these, they're basically informal savings groups where folks club together, chip in equal amounts every month or so, and then everyone in the group takes it in turns to receive the collected money. It's been a reliable way for Egyptians to save up for weddings, home improvements, school fees—you get the idea—with no banks or financial hassle involved.

What ElGameya brings is a modern, digital take on this age-old tradition through an app, making the whole thing a fair bit easier, safer and accessible to folks who haven't traditionally got easy access to mainstream banking services. The new inflow of cash is earmarked for expanding their offerings, reaching more users, and making their platform even more user-friendly.

Personally speaking, anyone who grew up watching their mum juggle monthly gameya contributions knows just how ingrained these circles are in our culture. They're not just about savings; they're about trust, reliability, and community bonds. So, digitising this tradition isn't just savvy business—it's helping real people tackle those day-to-day money challanges most of us know all too well.

For more stories on interesting tech and finance shake-ups like these, it’s always worth giving Arageek a scroll—they've usually got their finger on the pulse of innovation in the region.

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