Egypt's Lucky Secures $23M Series B To Drive Credit Expansion Across North Africa

(MENAFN- Daily News Egypt) Lucky, Egypt's fast-growing financial technology company, has raised $23m in a Series B round combining equity and debt, as it accelerates its expansion into North Africa's consumer credit market.

The round drew support from Disruptech Ventures and DPI Venture Capital via the Nclude fund, alongside new strategic investors including Suez Canal Bank and OneStop. Tech investor Mohamed Farouk also joined as Chairman of the Board following the transaction.

Lucky's fundraising follows a year of rapid growth, with the company reporting a threefold increase in activity in 2025 and achieving profitability by year-end. Its platform provides digital financial services and consumer credit solutions to users across Egypt.

The fresh capital will be used to scale credit offerings, expand geographically, and strengthen operational and regulatory infrastructure - including preparations for new licensing requirements. Lucky confirmed it is working toward a Payment Service Provider (PSP) license as part of its broader strategy.

Chairman Mohamed Farouk said the investment underscores confidence in Lucky's growth trajectory and its role in shaping digital finance in the region. CEO Ayman Essawy added that the company aims to broaden access to financial services while deepening investment in technology and infrastructure, particularly as Egypt's regulatory frameworks evolve.

Egypt's fintech sector has seen significant regulatory progress in recent years, from digital onboarding systems to payments infrastructure and new licensing frameworks. Lucky has built partnerships with merchants and financial institutions and now serves a growing user base in Egypt. With this latest funding, it plans to expand into select North African markets and enhance its technology and risk management capabilities.

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