- Lucky ONE, an Egyptian fintech company, has raised $3 million in convertible note funding to expand its credit platform services and reach into regional markets.
- The funding round was led by existing investors, including Lorax Capital Partners, KEM, and DisrupTech Ventures.
- The company aims to become a major player in Egypt’s fintech sector, offering a comprehensive suite of financial services, including instant cashback, discounts, and lending.
Lucky ONE, a leading consumer credit fintech company based in Egypt, has secured $3 million in convertible note funding. This investment round saw participation from existing investors, including Lorax Capital Partners, KEM, and DisrupTech Ventures.
Founded in 2018 by Momtaz Moussa, Ayman Essawy, and Marwan Kenawy, Lucky ONE aims to provide financial flexibility and purchasing power to its customers through a robust lending system, discounts, and cashback offers. The company plans to utilise the new funding to expand its credit platform services and extend its reach into regional markets over the next two years.
The company’s CEO, Momtaz Moussa, expressed his enthusiasm about the successful funding round, stating that it will fuel their ambitious growth plans and support their mission to provide accessible consumer credit solutions. He also highlighted investor confidence in Lucky ONE and their commitment to achieving sustainable profitability while creating value in the Egyptian market.
Mohamed Said, General Manager, emphasised the company’s significant momentum over the past five years and their readiness to offer a comprehensive suite of financial services, including instant cashback, discounts, and lending. This will empower customers to meet their diverse financial needs.
Ayman Essawy, co-founder and Chairman, reiterated Lucky ONE’s commitment to profitability and regional expansion over the next 24 months. The company aims to become a major player in Egypt’s fintech sector, which is attracting increasing interest from both local and foreign investors.
This funding round marks a significant step in Lucky ONE’s growth trajectory. The company’s focus on expanding its credit platform services and regional reach will solidify its position as a leading player in Egypt’s rapidly evolving fintech sector.
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Last Updated on August 12, 2024 by Safiya K
