Egyptian fintech startup Lucky has raised US$3 million in a convertible note round to scale its credit vertical on its path to profitability by Q1 2025.
Founded in 2018 by Momtaz Moussa, Ayman Essawy and Marwan Kenawy, Lucky offers financial flexibility and increased spending power through its robust lending scheme, discounts and cashbacks.
The startup has already expanded into Morocco, has now raised a US$3 million funding round from Lorax Capital Partners, KEM, DisrupTech Ventures and other existing investors.
The funds raised will be strategically utilised to expand the platform’s credit services, further enhancing its position as a leading consumer credit fintech in Egypt in alignment with the national financial inclusion agenda.
“We are thrilled to have successfully closed this round, which will fuel our ambitious growth plans and support our mission of providing accessible consumer credit solutions to underbanked Egyptians. This round reaffirms the trust our investors have placed in us and solidifies our commitment to achieving sustainable profitability while creating true value in the Egyptian market,” said Momtaz Moussa, co-founder and CEO of Lucky.
“On our path to sustainable profitability, Lucky is leveraging its solid collection processes and low default rates to ultra-scale our consumer credit vertical to ensure timely and effective offerings.”
