Techbyte: Lucky secures $23 million in Series B funding to drive expansion, digital finance growth (Wamda)

Lucky, a leading financial technology firm in Egypt and the broader Middle East, has announced the successful closure of a US$23 million Series B funding round, combining both equity and debt financing.

The round drew participation from a mix of existing and new investors, signaling strong confidence in the company’s growth trajectory and future vision.

Wamda reports that among the key participants were Disruptech Ventures and DPI Venture Capital through its Nclude fund, alongside new strategic investors including Suez Canal Bank and OneStop.

As part of the development, prominent tech investor Mohamed Farouk—chairman of OneStop—has been appointed Chairman of Lucky’s Board.

The funding milestone follows a year of exceptional performance for the company. Lucky reported triple-digit growth in 2025, achieving a threefold increase in annual performance and reaching profitability by the end of the year.

This progress has cemented its position as a major player in Egypt’s consumer credit sector and a contributor to the country’s push toward a digitally inclusive financial ecosystem.

The newly secured capital will be directed toward expanding Lucky’s credit services, strengthening its technological infrastructure, and supporting regulatory readiness as it advances toward becoming a neo-banking platform.

The company also plans to extend its footprint into North Africa, targeting new markets beyond Egypt.

Speaking on the investment, Mohamed Farouk highlighted the company’s strong fundamentals and long-term vision.

He noted that Lucky has demonstrated “disciplined growth” and a solid product-market fit, positioning it to play a leading role in the evolving consumer credit and digital banking landscape across the region.

Chief Executive Officer, Ayman Essawy, emphasized the broader impact of the funding, stating that financial access remained a cornerstone of economic progress.

He added that the investment would enable Lucky to scale responsibly, enhance infrastructure, and expand access to credit through advanced technology and artificial intelligence.

The funding also comes at a time of significant regulatory evolution in Egypt’s fintech sector.

Advances in digital onboarding, payment systems, and the introduction of Payment Service Provider (PSP) licensing frameworks are creating new opportunities for companies with established scale and compliance.

Lucky has already initiated steps toward obtaining PSP licensing, which will allow it to broaden its financial services offering.

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