Lucky ONE, a Cairo-based consumer credit fintech, has successfully secured $3 million in a convertible note to help the company achieve profitability by the first quarter of 2025. The investment round saw the participation of existing backers, including Lorax Capital Partners, KEM, and DisrupTech Ventures.
The newly acquired funds will be strategically utilised to scale Lucky ONE’s credit lending services, reinforcing its position as a leading player in Egypt’s consumer credit market. This initiative aligns with Egypt’s national financial inclusion agenda, which seeks to broaden access to credit services for the underbanked population.
Momtaz Moussa, Co-Founder and CEO of Lucky ONE, expressed his excitement about the successful financing round. “We are thrilled to have successfully closed this round, which will fuel our ambitious growth plans and support our mission of providing accessible consumer credit solutions to underbanked Egyptians. This round reaffirms the trust our investors have placed in us and solidifies our commitment to achieving sustainable profitability while creating true value in the Egyptian market,”
Moussa emphasized the company’s strategy of leveraging solid collection processes and low default rates to scale its consumer credit offerings effectively and efficiently. “On our path to sustainable profitability, Lucky ONE is leveraging its robust collection processes and low default rates to ultra-scale our consumer credit vertical, ensuring timely and effective offerings,” he added.
Lucky ONE’s latest financing round not only signifies a critical milestone in its growth trajectory but also highlights the robust confidence of its investors in the company’s vision and execution capabilities. As Lucky ONE continues to innovate and expand, it remains committed to driving financial inclusion and providing accessible credit solutions to millions of Egyptians.
