Have you heard about the best new way of saving and lending that’s been around for hundreds of years?

Yes, you read that right. Though most of us in the Western world have never heard of it, pooling money among friends or family as a lending and savings vehicle has been practiced in communities the world over for generations.

Curious? Let’s check it out and learn about some of the great benefits here!

What Is a ROSCA?

The concept is known by many names around the world. A susu in West Africa, a pandero in Peru, and a kutu in Malaysia — among many others.

In the Western world, we’ve settled on the unimaginative title Rotating Savings and Credit Association, or ROSCA.

Whatever you call it, the concept is essentially the same. A group of people get together and pool their money. They choose a set amount of money for each contribution and a set frequency at which they will make them. Each time they make a contribution, all the money goes to one member. The circle continues until every member has received the money once.

What’s the benefit? People near the beginning of the cycle basically get to enjoy an interest-free loan. People near the end get a nice payout when saving up a larger sum of money by themselves proves to be difficult.

A New Way to ROSCA

Communities have been using ROSCAs with great success. Here at PoolSpark, we wanted to find a way to offer this unique (and inexpensive) way to save and borrow money to others. So we created this money pooling platform.

Now, instead of having to search for people to join your ROSCA, you can simply join one online. It’s Fintech converging with a basic concept that has worked for hundreds of years to create a unique and incredible way to handle your finances.

Let’s dive in and understand more about the ways that PoolSpark can help you increase your financial flexibility.

More Buying Power

We all have lofty goals of setting aside x-amount of money every month. Unfortunately, somehow when you reach the end of the month, the money that you expected just isn’t there. You spent it on...something.

A money pool gives you access to a lump sum of money so you don’t have to worry about accidentally spending your savings. You give it to the pool so it isn’t there to spend. When you get your lump sum, now you have the funds you need for that larger purchase you were having trouble saving money for.


Choose how often you get your lump sum by choosing the length of your ROSCA. ROSCA contributions can be made weekly, bi-weekly, or monthly — it’s your choice which one you want to join.

You could even get your money in less than 7 days if you pick a weekly pool and you land at the beginning of the rotation.

No Interest

The average credit card interest rate is 20.09%. Payday loans are horrendous at an average rate of 398%!

Unlike these expensive methods of handling your finances that can suck you down rapidly into the quicksand of debt, PoolSpark doesn’t charge any interest. Zero. Zilch. Even better, your first pool is free!

Helps the Community

This is one big benefit you will never get from traditional banking. By participating in a money pool, you get to help out other people just like you. Interest on your loans isn’t going to a big bank and other folks get to take advantage of the interest-free loans and handy savings vehicle that ROSCAs provide.

It’s so exciting every time you get your payout and it’s fulfilling knowing that others are experiencing the same thrill.

Easy to Get Started

With a traditional susu, you had to find a group of people both willing and trustworthy enough to participate. This is why they often arise among large families or tight-knit communities.

PoolSpark makes it easy by handling all the admin work for you. Simply join the public pool in just a few clicks and get started pooling your money.

If you already have a group, you can do that too! Create a private pool among friends or family and you get to help out those closest to you while enjoying the many benefits yourself! To get started, simply head to PoolSpark.com. From there you can browse the public pools that are available and try out your first free pool today!