The investment, secured from existing backers Lorax Capital Partners, KEM, and DisrupTech Ventures, will fuel the company’s expansion plans and accelerate its path to profitability.

Founded in 2019 by Ayman Essawy, Momtaz Moussa, and Marwan Kenawy, Lucky ONE has rapidly grown to serve over 13 million registered users with its suite of credit, discount, and cashback offerings.

The fintech has built a strong presence in the Egyptian market, partnering with over 20,000 local and international stores.

The fresh capital will be used to enhance Lucky ONE’s credit platform and facilitate its entry into new regional markets within the next two years. The company aims to achieve profitability by the first quarter of 2025.

This development aligns with Egypt’s broader push for financial inclusion, as the government seeks to expand access to credit for the underbanked population through initiatives such as a new digital payment system and a national financial literacy campaign.

“This funding is a testament to Lucky ONE’s strong performance and growth potential,” said Ayman Essawy, Chairman of Lucky ONE. “We are committed to becoming a major player in the Egyptian fintech sector and expanding our reach across the region.”

Momtaz Moussa, CEO of Lucky ONE, added, “We are excited to leverage this investment to further our mission of providing accessible and affordable credit solutions to the underbanked population. Our proven track record in collections and low default rates will be instrumental in scaling our consumer credit offerings efficiently.”

Mohamed Sayed, General Manager of Lucky ONE, expressed confidence in the company’s ability to offer a comprehensive range of financial services, building on its success over the past five years.

With a total of $50 million raised to date and operations in Morocco, Lucky ONE is well-positioned to capitalize on the growing demand for financial services in the region.