Lucky, an Egyptian consumer credit and financial technology platform, has closed a $23m Series B funding round, combining equity and debt, as it prepares to expand into North Africa and advance its neo-banking ambitions, according to a report from Wamda.
The round was led by existing and new investors, including Disruptech Ventures and DPI Venture Capital via its Nclude fund, alongside new strategic participation from Suez Canal Bank and OneStop, chaired by tech investor Mohamed Farouk. As part of the deal, Farouk has also been appointed chairman of Lucky’s board.
The capital will be directed towards scaling Lucky’s credit offering, expanding into select North African markets, and strengthening its infrastructure, licensing, and regulatory readiness as it moves towards becoming a neo-banking-ready platform.
The company has already started work towards obtaining a payment service provider (PSP) licence, it said.
Lucky offers a mobile app to manage finances, such as real-time account balance and transaction history, pay bills, transfer money, and top up the account
OneStop chairman and newly appointed Lucky board chairman Mohamed Farouk said, “Lucky has demonstrated disciplined growth, strong product-market fit, and a clear vision for inclusive digital finance,” said Farouk. “This investment supports a platform that is well-positioned to be one of the leading players in the next phase of consumer credit and neo-banking in the region.”
Lucky CEO Ayman Essawy said, “With Mohamed Farouk’s vision, Lucky is well positioned to advance inclusive digital finance.
“Financial access is the foundation of progress. This round allows us to scale responsibly, invest in infrastructure, and deepen our impact as regulators unlock digital onboarding and modern payment frameworks across Egypt and the region. Lucky removes complexity from credit and opens it up to more people, leveraging its advanced technology and AI capabilities. With a card that works anywhere and anytime, we help individuals move forward confidently.”
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