Egyptian Fintech Lucky ONE Raises USD 3 M

Egypt-based fintech Lucky ONE has secured USD 3 M in funding through a convertible note from Lorax Capital Partners, KEM, DisrupTech Ventures, and other current investors.

The latest round of funding follows Lucky’s USD 25 M Series A round in 2022.

Founded in 2019 by Momtaz Moussa, Ayman Essawy and Marwan Kenawy, the fintech offers user-friendly credit products, discounts, and cashback rewards that are applicable both in person and online, with access to tens of thousands of local and global brands.

In 2023, the startup reportedly reached 3.6 million customers and 2.8 million transactions, operating in Egypt and Morocco. The funds raised will be strategically used to expand the platform’s credit services, further enhancing its alignment with the national financial inclusion agenda.