Lucky ONE, an Egyptian fintech company, has successfully raised $3 million in a convertible debt round with support from existing backers including Lorax partners, KEM, and DisrupTech Ventures. Founded in 2019 by Ayman Essawy, Momtaz Mousa, and Marwan Kenawy, Lucky ONE offers a variety of financial services such as credit, cash backs, and discounts both in-person and online. This new investment will be utilized to enhance its credit platform and facilitate entry into new regional markets, targeting Q1 2025 for these advancements.

Key Highlights:

• Lucky ONE secured $3 million in a convertible debt round.
• Investors include Lorax partners, KEM, and DisrupTech Ventures.
• Funds will be used to expand the credit platform and enter new regional markets.
• Founded in 2019 by Ayman Essawy, Momtaz Mousa, and Marwan Kenawy.
• Previous funding includes a $25 million Series A round in 2022.
• CEO Momtaz Mousa expressed confidence in achieving profitability with this new capital.

Quote from CEO:“We are thrilled to announce the successful closing of this funding round, 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,” said Momtaz Mousa.

Impact:

• The new funding signifies a major growth milestone.
• Expansion plans include extending the credit platform services and entering new regional markets over the next two years.

Lucky ONE’s journey continues to inspire as they set their sights on new horizons, driving financial innovation and inclusion across Egypt and the region. 🌟

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