Lucky ONE, the leading Egyptian consumer credit fintech, has successfully secured $3 million in a convertible note. This funding is a crucial milestone in its journey towards achieving profitability by Q1 2025.
This recent funding round saw participation from notable existing investors including Lorax Capital Partners, KEM, and DisrupTech Ventures. The infusion of capital is set to bolster Lucky ONE’s credit lending services, strengthening its position within Egypt’s dynamic consumer credit sector.
The investment aligns with Egypt’s national financial inclusion plan, aimed at expanding access to credit for the underbanked. Lucky ONE’s expansion efforts are a significant step in supporting this broader financial inclusion initiative.
Momtaz Moussa, co-founder and CEO of Lucky ONE, expressed gratitude towards the investors, noting that the round reinforces their trust and commitment to sustainable profitability and value creation in the Egyptian market.
Ayman Essawy, co-founder and chairman, will oversee licensing, regulatory affairs, strategic alliances, and investor relations. His role is pivotal in driving regional market expansions and ensuring alignment with the company’s profitability goals over the next two years.
Mohamed Sayed, general manager of Lucky ONE, highlighted the company’s readiness to enhance its financial services portfolio, building on the traction achieved over the past five years.
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