Lucky ONE, the Egyptian consumer credit fintech, has raised $3 million in a convertible note, bolstering its path to profitability by Q12025 and enabling the scaling of its credit lending offering for the Egyptian masses.
The financing round witnessed participation from existing investors, including Lorax Capital Partners, KEM and DisrupTech Ventures.
The funds raised will be strategically utilized 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.
Co-Founder and CEO of Lucky ONE, Momtaz Moussa, will continue carrying out executive duties, Ayman Essawy, Co-Founder & chairman, will focus on licensing, regulatory affairs, as well as strategic alliances and investor relations.
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 of 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.”
