Cairo Fintech Lucky ONE Raises $3 Million to Scale Across Egypt

Lucky ONE, a Cairo-based consumer credit fintech, has raised $3 million through a convertible note. This funding round saw participation from existing investors, including Lorax Capital Partners, KEM, and DisrupTech Ventures. The financing round marks a significant milestone for Lucky ONE, as it aims to achieve profitability by Q1 2025. 

The newly acquired funds are set to scale Lucky ONE’s credit lending services, a strategic move aligning with Egypt’s national financial inclusion agenda by offering broader access to credit services for the underbanked population. With a focus on leveraging its robust collection processes and maintaining low default rates, the company is poised to scale its consumer credit offerings effectively. 

Additionally, Lucky ONE plans to concentrate on licensing, regulatory affairs, strategic alliances, and investor relations to fortify its market position. The company has also outlined plans for regional market expansions within the next 24 months, indicating a strategic growth trajectory that positions it as a key player in the Egyptian fintech sector.