Lucky ONE Secures $3 Million
to Expand Consumer Credit Services

Cairo-based fintech startup, Lucky ONE, has announced a successful $3 million funding round led by existing investors, including Lorax Capital Partners, KEM, and DisrupTech Ventures. The investment, in the form of a convertible note, will be instrumental in propelling the company’s growth trajectory and solidifying its position as a leading player in Egypt’s burgeoning consumer credit market.

The newly acquired capital will be strategically allocated to scale Lucky ONE’s credit lending services, enabling the company to reach a wider segment of the underbanked population. This expansion aligns with Egypt’s national financial inclusion agenda, which aims to extend access to credit facilities to a larger portion of the citizenry.

Momtaz Moussa, Co-Founder and CEO of Lucky ONE, expressed his enthusiasm for the successful funding round, emphasizing its role in fueling the company’s ambitious growth plans. Moussa highlighted the company’s robust collection processes and low default rates as key factors in its ability to efficiently scale its operations.

Ayman Essawy, Co-Founder and Chairman, outlined the company’s strategic focus on licensing, regulatory affairs, and strategic partnerships. He also expressed confidence in Lucky ONE’s potential for regional expansion within the next two years.

The infusion of capital serves as a testament to investors’ confidence in Lucky ONE’s business model and its potential to disrupt the Egyptian financial landscape. As the company continues to grow, it aims to become a pivotal player in the country's fintech ecosystem while driving financial inclusion and empowering consumers.

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