Cairo-Based Fintech Lucky Cashes In US$23 Million In A Series B Funding Round
The investment also sees OneStop Holding founder Mohamed Farouk join Lucky—which is led by CEO Ayman Essawy—as the Chairman of its board.
Cairo-based fintech platform Lucky has secured US$23 million in a Series B funding round led by existing and new investors like Egypt-based Disruptech Ventures and UK-headquartered DPI Venture Capital through its pan-African Nclude Fund, with strategic participation from Egypt-based entities Suez Canal Bank and OneStop Holding.
Lucky plans to use the new capital to scale its credit offering, expand into North Africa, and strengthen its infrastructure, licensing, and regulatory readiness as the fintech works toward becoming a neo-banking-ready platform. The investment, which comprises a mix of equity and debt, also saw OneStop Holding founder Mohamed Farouk—popularly known for being a judge on the television show, Shark Tank Egypt—be appointed as the Chairman of the board at Lucky.
“Lucky was built on a simple mission: to make smart, accessible financial solutions available to everyone,” Ayman Essawy, co-founder and CEO of Lucky, told Inc. Arabia. “Today, millions of users rely on Lucky to save money, manage spending, and access flexible credit options that fit their lifestyle. By combining high acceptance, simple approval, and everyday usability, Lucky enables individuals to manage spending and payments with confidence.”
Since its launch in 2019, Lucky has evolved from a cashback rewards platform into a consumer credit network that offers its users credit lines as well as a large discount network across the country. Through its mobile app, users can also access the Lucky card, a digital payment and rewards service that allows users to pay bills, recharge mobile credit, shop with partner merchants, and access cashback offers and buy-now-pay-later (BNPL) options.
In 2025, Lucky reported 3x annual growth, with the enterprise also achieving profitability by the end of the year. The new investment comes as regulatory developments continue to shape Egypt’s fintech sector, including progress in digital onboarding, payments infrastructure, and the introduction of payment service provider (PSP) licensing. Lucky has started working toward obtaining a PSP license, which would allow it to expand its range of digital financial services.
Lucky’s growth story is also unfolding amid a wider climate of uncertainty across the MENA region owing to the ongoing US-Iran conflict. However, Essawy noted that such conditions are not unfamiliar territory for him and his team. “Turbulent times always come with uncertainty, and you start acting accordingly without prior planning,” he said. “Yet, maneuvering the last few years through episodes like the COVID-19 crisis and multiple wars have built a pretty resilient culture in Lucky to get through tough times and come out of it stronger. We are also very optimistic about Egypt’s economic status post the current circumstances.”
Against this backdrop, Essawy pointed to the principles that have guided Lucky’s growth thus far, which can also serve as a blueprint for other entrepreneurs in the region. “Fix the fundamentals, regardless of the market vibes around you,” he said. “Building a tech-led business is slower in the early days, but the growth ratio is exponential afterwards. Also, select the right partners while avoiding dependency; it makes the journey smoother.” For Essawy, this kind of a mindset is essential for building in the region. “Staying resilient in this part of the world is not a luxury,” he pointed out. “You operate against the norm.”
Pictured in the lead image is Lucky Chairman Mohamed Farouk with CEO Ayman Essawy. Image courtesy Lucky.
