Lucky raises $23m in Series B for North Africa expansion

By Aarav Garg

Lucky, an Egypt-based FinTech has raised $23 million in a Series B round, in a combination of equity and debt with Disruptech Ventures, DPI via Nclude, and Suez Canal Bank. The funding will support Lucky’s credit product expansion, infrastructure development, and regional growth in North Africa.

In line with the Central Bank of Egypt’s (CBE) vision of developing the Egyptian economy, the company hopes to play a significant role in the African country’s transformation into a digital and financially inclusive economy.

The transaction also included the participation of OneStop, chaired by tech investor Mohamed Farouk, who has also been appointed as the Chairman of the Board for Lucky App, said “Lucky has demonstrated disciplined growth, strong product-market fit, and a clear vision for inclusive digital finance. This investment supports a platform that is well-positioned to be one of the leading players in the next phase of consumer credit and neo-banking in the region.”

Ayman Essawy, CEO of Lucky, said, “Financial access is the foundation of progress. This round allows us to scale responsibly, invest in infrastructure, and deepen our impact as regulators unlock digital onboarding and modern payment frameworks across Egypt and the region.”

Essawy also explained that Lucky hopes to remove complexity from credit and open it up to more people, leveraging its advanced technology and AI capabilities. He added, “With a card that works anywhere and anytime, we help individuals move forward confidently.”

For FinTech players with proven scale and compliance capabilities, recent advances in digital solutions and the introduction of payment service provider (PSP) licensing are an important development. Lucky, on its part, has also begun work toward PSP licensing, hoping to back its expansion ambitions to offer comprehensive digital financial services over time.