Egypt’s Lucky Raises $23 Million to Expand Credit in North Africa : TechMoran

Egyptian fintech Lucky App has raised $23 million in a Series B round combining equity and debt to scale its consumer credit product and expand into North Africa, the company said. The Cairo-based startup attracted participation from a mix of existing and new investors, including Disruptech Ventures and DPI Venture Capital through the Nclude Fund, alongside strategic investors Suez Canal Bank and OneStop. As part of the transaction, Egyptian tech investor Mohamed Farouk was appointed chairman of Lucky’s board.

"Lucky has demonstrated disciplined growth, strong product-market fit, and a clear vision for inclusive digital finance," said Mohamed Farouk, underscoring the company's positioning to capture growth in consumer credit and neo-banking across the region.

Growth, profitability and product

Lucky operates in the consumer credit space, providing users access to financing via a card-based system accepted across merchants. The company reported threefold annual growth in 2025 and said it reached profitability by year-end, milestones that the startup is highlighting as it seeks to balance scale and sustainable margins. Chief Executive Ayman Essawy said the fresh capital will be used to scale operations while investing in infrastructure and regulatory readiness.

"Financial access is the foundation of progress. This round allows us to scale responsibly and deepen our impact as regulators unlock digital onboarding and modern payment frameworks," Essawy said, tying the fundraising to evolving regulatory reforms in Egypt.

Investors, strategy and regulatory moves

• Lead and participating investors: Disruptech Ventures; DPI Venture Capital via the Nclude Fund; Suez Canal Bank; OneStop; and a mix of existing and new backers.
• Use of proceeds: scale consumer credit operations, strengthen infrastructure, and prepare for regulatory requirements.
• Regulatory strategy: Lucky said it has already begun the process of securing a Payment Service Provider (PSP) license, which would enable the company to broaden its product stack into wider digital financial services.

The funding follows wider regulatory progress in Egypt, where authorities have been advancing digital onboarding, improving payments infrastructure, and rolling out frameworks for PSP licensing. Lucky plans to leverage those shifts to expand beyond Egypt into select North African markets, tapping a growing merchant network and user base the company has built during its recent growth.

Outlook

With $23 million in combined equity and debt, a newly appointed board chair in Mohamed Farouk, and a plan to pursue a PSP license, Lucky is positioning itself to deepen its presence in consumer credit and neo-banking in North Africa. The company’s management points to a convergence of regulatory momentum and market demand as the rationale for accelerated expansion, while its profitability and threefold growth in 2025 provide a financial footing for the next stage of regional scale-up.