Egyptian Fintech Lucky Hits Profitability, Raises $23m Series B for North African Expansion
Egyptian consumer credit startup Lucky has raised a $23m Series B funding round, comprising a mix of equity and debt, as it prepares to expand across North Africa and pivot toward neo-banking.
The round was backed by a syndicate of existing and new investors, including Disruptech Ventures and DPI Venture Capital via the Nclude fund. The fundraise also brought in strategic capital from Suez Canal Bank and investment firm OneStop.
Alongside the injection of capital, OneStop chairman Mohamed Farouk has been appointed as the new chairman of Lucky’s board.
Path to profitability
Founded in 2019 as a cashback and rewards platform, Cairo-based Lucky has since transitioned into a consumer credit network, offering instant credit lines and a dedicated payment card.
The Series B round follows a period of notable financial maturation for the company. Counter to the broader venture trend of high cash burn to acquire market share, Lucky reports that it achieved 3x annual growth in 2025 and reached profitability by the end of the calendar year.
