ElGameya, Saad Khalid Al-Moajil Partner on Fintech Solutions
The partnership will allow ElGameya to extend its ROSCA services to the kingdom.
Egyptian fintech ElGameya announced a strategic partnership with Saad Khalid Al-Moajil, a leading investment company in the region, to expand ElGameya's business in the Saudi market. The partnership, which includes a strategic investment from Saad Khalid Al-Moajil, was established in collaboration with fintech builder Fin Ventures. Fin Ventures will serve as a partner and strategic advisor to the collaboration. [1]
ElGameya, which specializes in rotating savings and credit associations (ROSCA), is an online platform that facilitates mutual funding through financial associations. The app allows users to join financial circles, create their own circles, pay monthly installments, manage their savings, and receive payouts. Users get to choose the duration of the circle, its objective, and the number of seats. The association is Shariah-compliant.
The partnership will allow ElGameya to deliver solutions to the rotating financial cooperatives sector in Saudi Arabia.