
Egyptian Fintech Lucky ONE Secures $3 Million to Expand Credit Platform and Regional Footprint
Lucky ONE, an Egyptian fintech specializing in consumer credit, has successfully raised $3 million in a convertible bond funding round.
Development Partners International (DPI), along with its co-investors, has finalized an agreement to invest $190 million in Alameda Healthcare, one of Egypt’s leading private healthcare groups.
The deal involves a minority equity stake and is primarily structured as a capital injection.
The transaction remains subject to regulatory clearance and other customary closing conditions, with completion expected in the third quarter of 2025.
The new investment is intended to fuel Alameda Healthcare’s growth strategy both within Egypt and in countries across the Gulf Cooperation Council (GCC).
The move is expected to enhance the group’s capacity and extend its healthcare services to more communities.
Dr. Fahad Khater, who serves as the chairman of Alameda, will remain the majority shareholder.
DPI and its partners will collaborate with its leadership team to support the organization’s expansion plans.
Founded in 1999, Alameda is recognized as Egypt’s largest private hospital operator, offering more than 1,000 hospital beds.
The group owns and manages multiple healthcare facilities, including the As-Salam International and Dar Al Fouad hospitals, as well as seven polyclinics.
Its portfolio also includes the Elixir Gastro and Liver Care Center, the German Rehabilitation Center, and Tabibi 24/7, which offers home-based care services.
In addition, Alameda provides diagnostic services, laboratory testing, and operates its own pharmacies.
Ziad Abaza, a partner at DPI, described the investment as a significant development for both Egypt’s healthcare sector and DPI.
He expressed support for Dr. Khater’s vision to deliver high-quality healthcare in Egypt and the GCC region and emphasized DPI’s commitment to working closely with Alameda’s leadership team.
EFG Hermes was the exclusive financial advisor on the deal.
Legal advice was provided by Addleshaw Goddard LLP for international matters, while ALC Alieldean Weshahi & Partners and Matouk Bassiouny & Hennawy advised Alameda locally.
DPI received legal counsel from White & Case LLP and also worked with PwC, Debevoise & Plimpton LLP, and Rothschild & Co. as part of its advisory group.
Lucky ONE, an Egyptian fintech specializing in consumer credit, has successfully raised $3 million in a convertible bond funding round.
South African startup Open Access Energy (OAE) has successfully closed an oversubscribed seed funding round worth $1.8 million, aimed at fast-tracking the growth of its AI-powered platforms that support digital energy infrastructure and real-time electricity trading.
Kenyan mobile operator Safaricom has partnered with fintech company Pezesha to offer micro-loans to users of its Pochi La Biashara business payment service.
© 2021 Empower Africa. All rights reserved.