Lucky, a financial technology company based in Egypt, has raised $23 million in a Series B funding round to grow its services and expand into North Africa.
The funding includes both equity and debt, with support from investors such as Disruptech Ventures, Development Partners International through its Nclude platform, and Suez Canal Bank. The company plans to use the money to expand its credit products, improve its technology systems, and enter new markets across the region.
This move aligns with efforts by the Central Bank of Egypt to build a stronger digital economy and improve access to financial services for more people. Lucky aims to support this goal by making it easier for individuals to access credit and use digital payment tools.
The funding round also included participation from OneStop, led by investor Mohamed Farouk, who has now been appointed Chairman of Lucky’s board. He said the company has shown steady growth, a strong understanding of its market, and a clear plan to expand digital finance services. He believes Lucky could become a major player in consumer credit and digital banking across the region.
Ayman Essawy, the company’s Chief Executive Officer, said access to financial services is key to economic progress. He explained that the new funding will help Lucky grow in a careful and responsible way, improve its systems, and reach more users as digital banking rules continue to develop in Egypt and nearby markets.
Essawy added that Lucky is working to make credit simpler and more widely available by using advanced technology and artificial intelligence. The company offers a payment card that can be used anywhere, helping users manage their spending with ease.
Recent changes in Egypt’s financial sector, including the introduction of payment service provider licensing, are creating new opportunities for fintech companies. Lucky has already started working toward obtaining this license, which will allow it to offer a wider range of digital financial services in the future.
With this investment, Lucky is positioning itself for growth beyond Egypt, aiming to play a key role in shaping the future of digital finance in North Africa.
