Lucky ONE, a consumer credit fintech company, has raised $3 million in convertible note funding, with participation from current investors such as Lorax Capital Partners, KEM, and DisrupTech Ventures.
Founded in 2018 by Momtaz Moussa, Ayman Eissaoui, and Marwan Kanawy, Lucky ONE offers financial flexibility and purchasing power through a robust lending system, discounts, and cashback.
The company will use the new funding to expand its credit platform services and extend its reach into regional markets over the next two years.
Egypt’s leading consumer finance company, Lucky ONE, announced its successful raising of $3 million through convertible notes, aiming to expand its credit lending offerings and enhance its path to profitability by the first quarter of 2025.
The funding round saw participation from existing investors, including Lorax Capital Partners, KEM, and DisrupTech Ventures.
The company stated that this funding round marks an important step in its growth trajectory, with the funds being strategically used to expand its credit platform services.
Momtaz Moussa, co-founder and CEO, commented, “We are delighted with the successful closure of this round, which will fuel our ambitious growth plans and support our mission to provide accessible consumer credit solutions.
This round reaffirms investor confidence in us and strengthens our commitment to achieving sustainable profitability while creating real value in the Egyptian market.”
Mohamed Said, General Manager, emphasized his positive outlook while leading business operations in Egypt, stating, “Lucky ONE has gained significant momentum over the past five years, and we are ready to take the next step towards offering a comprehensive suite of financial services, from instant cashback and discounts to lending, empowering our customers to meet their diverse financial needs.”
Ayman Essawy, co-founder and Chairman, reiterated Lucky ONE’s commitment to profitability and regional expansion over the next 24 months, aiming to provide innovative financial services and making it a major player in Egypt’s fintech sector, which is attracting increasing interest from both local and foreign investors.
