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Lucky ONE, a leading consumer credit fintech company in Cairo, has successfully raised $3 million in the form of a convertible note.
This funding will help the company reach profitability by Q12025 and expand its credit lending services to a wider segment of the Egyptian population.
Current investors Lorax Capital Partners, KEM, and DisrupTech Ventures participated in the investment round.
Momtaz Moussa, Ayman Essawy, and Marwan Kenawy founded Lucky ONE in 2018. With its extensive lending program, cashback, and discounts, Lucky ONE provides customers with more buying power and financial flexibility.
While Momtaz Moussa, co-founder and CEO of Lucky ONE, will continue to lead the company’s executive operations, co-founder and chairman Ayman Essawy will focus on licensing, regulatory matters, strategic partnerships, and investor relations.
Momtaz Moussa, Co-Founder & CEO of Lucky ONE, commented on the most recent financing round, saying: “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.”
This funding round represents an important turning point in Lucky ONE’s development trajectory as the company continues to march steadily toward profitability.
After growing its business in Egypt and Morocco, Lucky ONE is now focussing on growing its credit vertical to turn a profit by the first quarter of 2025.
In keeping with the national financial inclusion objective, the funds raised will be strategically used to extend the platform’s credit services, thereby solidifying its position as Egypt’s foremost consumer credit fintech.
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