Egypt’s fintech Lucky raises $23 million, eyes North Africa expansion

Lucky, a fintech platform operating in Egypt and across the Middle East, has raised $23 million in a Series B funding round as it prepares to expand into North Africa and strengthen its consumer credit offering. The round, which combines equity and debt, will support product development, infrastructure upgrades, and regulatory readiness as Lucky broadens its footprint.

The funding was backed by a mix of returning and new investors, including Disruptech Ventures and DPI Venture Capital through the Nclude Fund. Suez Canal Bank and OneStop also joined the round, with tech investor Mohamed Farouk taking a strategic stake. Farouk has also been appointed chairman of Lucky’s board, a move that reflects Lucky’s next phase of expansion.

Lucky targets regional credit growth

The fresh capital comes after a year of strong growth for Lucky. The company reported tripling its business in 2025 and reaching profitability by the end of the year. Those gains helped strengthen its position in Egypt’s fast-growing consumer credit market, where fintech firms are racing to expand access to digital financial services.

Farouk said the company’s performance and long-term outlook attracted investor interest. “Lucky has demonstrated disciplined growth, strong product-market fit, and a clear vision for inclusive digital finance,” he said. “This investment supports a platform that is well positioned to play a leading role in consumer credit and digital banking across the region.”

CEO Ayman Essawy said the funding would allow Lucky to scale carefully while investing in technology and compliance. “Financial access remains a key driver of economic growth,” Essawy said. “This round allows us to expand responsibly, invest in infrastructure, and deepen our reach as regulators open the door for digital onboarding and modern payment systems.”

Lucky builds broader digital finance platform

Founded in 2019 by Momtaz Moussa and Essawy, Lucky set out to offer flexible financial tools for everyday consumers. The company has since built partnerships with merchants and financial institutions across Egypt. Today, Lucky says more than 13 million users rely on its platform to manage spending, access credit, and find savings opportunities.

Lucky’s expansion plans also come as Egypt’s fintech sector evolves. New developments in digital onboarding, payments infrastructure, and payment service provider licensing are creating opportunities for companies with scale and compliance capabilities. Lucky said it has already begun preparing for PSP licensing, which would allow it to broaden its services.

With the new funding, Lucky plans to enter select North African markets while continuing to invest in technology, risk management, and regulatory systems. The company said the goal is to build a broader digital financial platform that supports both consumers and merchants across the region.