Lucky has raised 23 million dollars in a Series B round combining equity and debt, as the company looks to expand its consumer credit platform and enter new markets.
The round included participation from Disruptech Ventures, Development Partners International through its Nclude fund, Suez Canal Bank, and OneStop. Mohamed Farouk joined as Chairman of the Board following the investment.
Founded in 2019 by Ayman Essawy, Lucky offers cashback, instalments, and financing products to consumers. The company said it will use the funds to scale its credit products, strengthen infrastructure, and expand into North Africa.
Lucky reported 3x growth in 2025 and reached profitability by the end of the year. The company is positioning itself to benefit from changes in Egypt's financial sector, including digital onboarding and payment system upgrades led by the central bank.
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The raise follows a 25 million dollar Series A in 2022 backed by investors including Nclude, PayU, and Endeavor Catalyst. Lucky said it is working toward PSP licensing as it builds a broader digital financial services platform.
Key Takeaways
Lucky's funding highlights a shift in African fintech from growth to profitability and infrastructure buildout. The mix of equity and debt shows a more disciplined capital approach as investors focus on unit economics and credit risk management. Consumer credit remains one of the largest gaps in African financial services, where access to formal lending is limited and often expensive. Companies like Lucky are using data and technology to underwrite users outside traditional banking systems, offering instalments and flexible payment options tied to everyday consumption. Egypt is one of the largest fintech markets in Africa, supported by regulatory reforms from the Central Bank of Egypt, including digital onboarding and licensing frameworks such as PSP licenses. These changes lower barriers for fintechs to scale and offer more services beyond payments, including lending and neo-banking features. For investors, the entry of banks like Suez Canal Bank signals closer collaboration between fintechs and traditional financial institutions. The focus on North Africa expansion also reflects a regional strategy where companies scale first in large domestic markets before moving into adjacent markets with similar regulatory and consumer dynamics.
