ElGameya Company Profile

Background

Overview

ElGameya is an Egyptian fintech company founded in 2020 by Ahmed Abdeen, dedicated to modernizing the traditional Rotating Savings and Credit Association (ROSCA) model through digital innovation. The company offers a mobile application that enables users to participate in customizable savings circles, providing a secure and transparent platform for managing collective savings. ElGameya aims to enhance financial inclusion by offering flexible savings solutions tailored to various financial goals, including education, weddings, and small business ventures.

Mission and Vision

ElGameya's mission is to empower individuals by digitizing traditional savings practices, making financial tools more accessible and adaptable. The company's vision is to become a leading provider of digital savings solutions in Egypt and the broader Middle East and North Africa (MENA) region, fostering financial literacy and inclusion.

Industry Significance

Operating within the fintech industry, ElGameya addresses the needs of a significant portion of the Egyptian population that remains unbanked or underbanked. By digitizing the ROSCA model, the company bridges the gap between traditional savings methods and modern financial services, contributing to the broader goal of financial inclusion in the region.

Key Strategic Focus

Core Objectives

• Digital Transformation of ROSCA: Modernize the traditional ROSCA model by providing a digital platform that ensures security, transparency, and ease of use.

• Financial Inclusion: Offer accessible and flexible savings solutions to underserved populations, enabling them to achieve financial goals without the constraints of traditional banking systems.

• Product Innovation: Continuously enhance the platform's features to meet the evolving needs of users, ensuring a user-friendly experience.

Areas of Specialization

• Digital Savings Circles: Facilitate customizable savings groups where members contribute fixed amounts at regular intervals, with each member receiving the pooled funds in turn.

• Flexible Financing Solutions: Provide adaptable installment plans to cater to both short-term and long-term financial objectives.

Key Technologies Utilized

• Mobile Application Development: Develop a user-friendly mobile app that supports the creation and management of savings circles.

• Secure Payment Systems: Implement robust security measures to ensure safe and transparent financial transactions.

Primary Markets Targeted

• Egyptian Market: Focus on the local market, addressing the needs of individuals seeking alternative savings methods.

• MENA Region: Explore expansion opportunities in other countries within the MENA region where ROSCA practices are prevalent.

Financials and Funding

Funding History

• Pre-Seed Round (2020): Raised a six-figure investment led by AUC Angels, with participation from Cairo Angels and Alex Angels.

• Series A Round (May 2025): Secured a seven-figure USD investment led by AYADY for Investment and Development, with participation from Jedar Capital, Cubit Ventures, Ventures Notes, P-Maestro, and a group of local and international angel investors.

Total Funds Raised

Approximately seven figures in USD across the two funding rounds.

Utilization of Capital

• Product Development: Enhance the platform's features and user experience.

• Market Expansion: Increase user acquisition and explore regional expansion opportunities.

• Operational Scaling: Strengthen operational capabilities to support a growing user base.

Pipeline Development

Key Pipeline Candidates

• Digital Savings Circles: Ongoing development of customizable savings groups within the app.

• Flexible Financing Plans: Introduction of adaptable installment plans to meet diverse financial needs.

Stages of Development

• Product Development: Continuous enhancement of platform features.

• Market Penetration: Expansion of user base and strategic partnerships.

Target Conditions

• Short-Term Financial Goals: Education, weddings, and other immediate financial needs.

• Long-Term Financial Goals: Small business ventures and other long-term objectives.

Anticipated Milestones

• User Growth: Achieve significant increases in registered users and active participants.

• Partnership Expansion: Form additional strategic partnerships with companies and educational institutions.

Technological Platform and Innovation

Proprietary Technologies

• Digital Savings Platform: A proprietary mobile application that digitizes the ROSCA model, allowing users to create and manage savings circles.

Significant Scientific Methods

• Data Analytics: Utilize data analytics to understand user behavior and optimize the platform's features.

• Security Protocols: Implement advanced security measures to ensure the safety and transparency of financial transactions.

Leadership Team

Ahmed Abdeen: Founder and CEO. With a background in fintech and entrepreneurship, Abdeen has been instrumental in developing ElGameya's vision and leading its growth.

Amr Aboulazm: Founding Chairman. An experienced investor and mentor, Aboulazm provides strategic guidance and support to the company.

Osama Saleh: Chairman of AYADY for Investment and Development. As a key investor, Saleh offers valuable insights into the fintech landscape and supports ElGameya's mission.

Hazem Kamel: Managing Director – Private Equity at NI Capital. Kamel's expertise in private equity investments contributes to the company's strategic direction and growth.

Competitor Profile

Market Insights and Dynamics

The fintech sector in Egypt and the MENA region is experiencing rapid growth, with increasing adoption of digital financial services. Traditional savings models like ROSCAs remain prevalent, presenting opportunities for digital transformation.

Competitor Analysis

• MoneyFellows: A leading competitor in the digital ROSCA space, offering similar services with a focus on community-based savings.

• Esusu: A fintech company providing rent reporting to credit bureaus and financial health services, targeting a different segment within the financial services industry.

Strategic Collaborations and Partnerships

• Al-Ahly Momkn: Partnered to provide value-added services to merchants, expanding ElGameya's reach and service offerings.

Operational Insights

Strategic Considerations

• Market Position: ElGameya holds a strong position in the digital ROSCA market, with a growing user base and strategic partnerships.

• Competitive Advantages: The company's focus on security, transparency, and user-friendly design differentiates it from competitors.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Product Enhancement: Continue to innovate and improve the platform's features to meet user needs.

• Market Expansion: Explore opportunities in other MENA countries and regions with similar financial practices.

• Financial Inclusion Initiatives: Develop programs aimed at increasing financial literacy and inclusion among underserved populations.

Contact Information

• Official Website: ElGameya Official Website

• Social Media Profiles:

• Facebook: ElGameya Facebook Page

• Twitter: ElGameya Twitter Profile

• LinkedIn: ElGameya LinkedIn Profile