Egyptian fintech ElGameya raises six-figure pre-seed to help people save money

Egyptian fintech ElGameya raises six-figure pre-seed to help people save money

Cairo-based fintech ElGameya has raised a six-figure pre-seed investment led by AUC Angels, the startup announced in a statement today to MENAbytes, without disclosing the exact size of the investment. The round was also joined by Cairo Angels and Alex Angels.

Founded in 2018 by Ahmed Mahmoud, ElGameya enables people to save money using money circles. The users can use the platform to take part in the existing money circles available on the platform or create new ones using their own network. For those who don't know how this works, all the members of a money circle deposit a fixed (and agreed) amount of money every week or month (or any fixed interval) and during every interval, one person from that circle will receive all the money from it.

As the example