Prominent consumer credit fintech company Lucky ONE, based in Cairo, has announced that it has successfully raised $3 million in the form of a convertible note. This development will help the company reach profitability by Q12025 and expand its credit lending services to a wider audience in Egypt. Existing investors Lorax Capital Partners, KEM, and DisrupTech Ventures participated in the funding round.
This fundraising round represents an important turning point in Lucky ONE’s development trajectory as the company continues to march steadily toward profitability. In keeping with the national financial inclusion agenda, the funds raised will be strategically used to expand the platform’s credit services, thereby solidifying its position as Egypt’s foremost consumer credit fintech.
Ayman Essawy, co-founder and chairman of Lucky ONE, will concentrate on licensing, regulatory affairs, strategic alliances, and investor relations while Momtaz Moussa, co-founder and CEO, will continue to perform executive duties.
Commenting on the recent financing round, Momtaz Moussa, Co-Founder & CEO of Lucky ONE, stated: “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.”
“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” he added.
From his part, Mohamed Sayed, General Manager of Lucky ONE, echoed his positive vision leading Egypt’s commercial operations, saying: “The traction built by the Lucky ONE over the past 5 years has geared us to take the next step towards offering a comprehensive range of financial services. Ranging from satisfying instant discount and cashback needs, all the way to lending, we are working to empower our customers to stay ahead of their financial needs.”
Reiterating Lucky ONE’s commitment to providing cutting-edge financial services, co-founder and chairman Ayman Essawy expressed his optimism about the most recent advancements and his eagerness to keep fostering business expansion. stating that Lucky ONE is positioned as a major player in the dynamic Egyptian fintech industry due to its dedication to profitability and plans to expand into new regional markets within the next 24 months.
