Egypt's Fintech Lucky ONE Raises $3 Million

Cairo-based fintech Lucky ONE has secured $3 million in a convertible note to support its goal of reaching profitability by the first quarter (Q1) of 2025 and to expand its credit lending services across Egypt.^[1]  

The financing round saw participation from existing investors, including Lorax Capital Partners, KEM, and DisrupTech Ventures. 

Founded in 2018 by Momtaz Moussa, Ayman Essawy, and Marwan Kenawy, Lucky ONE provides financial flexibility and increased spending power through lending schemes, discounts, and cashback. 

Co-Founder and CEO Momtaz Moussa will continue to oversee executive operations, while Co-Founder and Chairman Ayman Essawy will focus on licensing, regulatory affairs, strategic alliances, and investor relations.