Lucky ONE, a leading consumer finance company in Egypt, has successfully raised $3 million in a convertible bond funding round. The investment, secured from existing backers including Lorax Capital Partners, KEM, and DisrupTech Ventures, will be instrumental in expanding the company’s credit platform and facilitating its entry into new regional markets.
The funding marks a significant milestone for the company as it accelerates its path to profitability, targeting Q1 2025 for this achievement. Lucky ONE plans to strategically utilize the fresh capital to enhance its credit offerings and solidify its position as a dominant player in Egypt’s burgeoning fintech sector.
“We are thrilled to announce the successful closing of this funding round,” said Momtaz Mousa, Co-Founder and CEO of Lucky ONE. “This investment is a testament to the confidence our investors have in our vision and our ability to deliver innovative financial solutions to the underserved Egyptian market. With this new capital, we are well-positioned to expand our reach, enhance our product offerings, and ultimately achieve profitability.”
Mohamed Sayed, General Manager of Lucky ONE, emphasized the company’s growth trajectory and its commitment to providing a comprehensive range of financial services. “Over the past five years, Lucky ONE has built strong momentum by offering discounts and instant cashback. We are now excited to expand our services to include lending, thereby addressing the diverse financial needs of our customers,” he stated.
Ayman Essawy, Co-Founder and Chairman, outlined Lucky ONE’s strategic focus on profitability and regional expansion. “Our goal is to establish Lucky ONE as a leading fintech player not only in Egypt but also in the wider region. By leveraging our expertise and the support of our investors, we will continue to develop innovative financial products and services that create value for our customers and drive sustainable growth,” he concluded.
A Look at Lucky ONE
Founded in 2019 by Ayman Essawy, Momtaz Moussa, Marwan Kenawy, Lucky ONE is a leading consumer finance company based in Egypt, offering a range of financial services including credit, discounts, and cashback. With a focus on serving the unbanked population, Lucky ONE is committed to financial inclusion and empowering individuals through accessible and affordable financial solutions.