Egypt’s Lucky Secures $23 Million Series B to Fuel North African Expansion

Egypt-based fintech Lucky has closed a $23 million Series B funding round consisting of a strategic mix of equity and debt. The investment features participation from Disruptech Ventures, Nclude, Suez Canal Bank, and OneStop. This capital injection marks a significant milestone as the company moves toward its goal of becoming a neo-banking ready platform in the Middle East and North Africa.

The new funds are earmarked for scaling consumer credit offerings and supporting vital infrastructure development. Lucky also plans to use the investment to facilitate regional growth throughout North Africa. This expansion follows a period of strong financial performance, with the startup achieving profitability and recording threefold annual growth by the end of 2025.

Alongside the funding, tech investor Mohamed Farouk has joined the company as Chairman of the Board. Farouk emphasized that Lucky is well positioned to lead the next phase of inclusive digital finance in the region. CEO Ayman Essawy stated that the investment allows the platform to scale responsibly as regulators unlock modern payment frameworks.

Founded in 2019, Lucky operates a credit platform that provides cashback, installments, and flexible financing solutions. The platform serves millions of users by removing complexity from traditional credit systems through advanced AI capabilities. By leveraging alternative data, the company provides financial access to individuals often overlooked by conventional banking institutions.

This round follows a Series A closed in 2022 and a separate convertible note in 2024. Lucky is currently working toward obtaining a Payment Service Provider license to broaden its service stack and regulatory readiness. These efforts align with the Central Bank of Egypt vision for a more financially inclusive and digital economy.