Egyptian Fintech Startup Lucky Raises USD 25 Mn To Scale

Lucky, Egypt’s leading app for credit products, offers and cashback rewards announces its USD 25 Mn fund Series A raise. The funding round was led by Nclude and one of Egypt’s largest national banks – Banque Misr, National Bank of Egypt, and Banque du Caire. Major investments also came from PayU, the Prosus-owned Fintech firm specializing in emerging markets; Endeavor Catalyst, Venture Souq, OTF, Arzan Capital, and DisruptechVentures, who joined existing investors and significant shareholder Lorax Capital Partners.

 Lucky is a digital rewards app offering cashback and credit products such as save now pay later. The app allows users to rack up and redeem points for discounts on their purchases from over 20,000 local and international brands. It plans to use the funds to shore up its credit capabilities and expand its geographical presence in the Middle East and North Africa region.