Egyptian Fintech Startup Lucky One Secures $3 Million in Funding
Lucky One, a leading fintech company from Egypt, has successfully raised $3 million in a new funding round. This investment, led by existing investors including Lorax Capital Partners, KEM, and DisrupTech Ventures, will fuel Lucky One’s growth and expansion plans.
From Discounts to Credit – Empowering Egyptian Consumers
Founded by Dsquares, a leading provider of loyalty and rewards solutions, Lucky One has evolved from a platform offering discounts and rewards to a comprehensive fintech solution. Today, Lucky One provides users with access to cashback, discounts. Moreover, the company even offers credit options through partnerships with over 10,000 websites and stores across Egypt.
Lucky One to Drive Growth and Reach in Egypt
This latest round of funding will enable Lucky One to:
- Expand Credit Services: Invest in and scale its credit offerings, providing more accessible and affordable financial solutions to underbanked Egyptians.
- Fuel Growth Initiatives: It wants to accelerate its growth trajectory and expand its user base. Secondly, to expand its existing merchant network.
- Explore Regional Expansion: Explore opportunities to expand its operations into other promising markets within the region.
What lies ahead for Lucky One in Egypt?
Momtaz Moussa, co-founder and CEO of Lucky One has outlined the company’s aims. He said, “We are thrilled to have successfully closed this funding round, This investment reinforces the trust our investors have placed in our vision and will enable us to achieve our goal of providing accessible and affordable consumer credit solutions to Egyptians.”
Lucky One is committed to sustainable growth and profitability. By leveraging its strong foundation and innovative technology, the company aims to empower consumers. In effect, it wants to drive financial inclusion across Egypt and beyond in the MENA region.
