Egypt's Lucky Raises $23 Million Series B to Scale Digital Credit and Expand Across North Africa

Egyptian fintech startup Lucky has raised $23 million in a Series B funding round aimed at expanding its digital credit services across North Africa.

Founded in 2019 by Momtaz Moussa, Ayman Essawy, and Marwan Kenawy, Lucky transitioned from a rewards-based model to a credit-led platform offering payment cards, instalment plans, and instant credit lines. The funding round included both equity and debt financing from investors like Disruptech Ventures, DPI Venture Capital, Suez Canal Bank, and OneStop, whose chairman, Mohamed Farouk, will now chair Lucky's board.

The investment comes as Egypt’s fintech sector grows, aided by regulatory reforms that enhance digital financial service scalability.

Lucky intends to strengthen its credit offerings, invest in technology and compliance, and prepare for regional expansion while addressing the financial inclusion gap in a market with limited access to formal credit.