Egypt’s Lucky raises $23m to expand credit services and regional growth

Egypt-based fintech Lucky has raised $23 million in a Series B funding round comprising both equity and debt, as it looks to expand its credit offerings and scale operations across North Africa, the company said in a statement.

The round included participation from Disruptech Ventures, Development Partners International (DPI) through its Nclude platform, Suez Canal Bank, and OneStop, led by investor Mohamed Farouk, who has also been appointed chairman of Lucky’s board.

The company said the new funding will be used to strengthen its credit products, invest in technology infrastructure, and support regional expansion, while preparing for regulatory developments tied to digital banking and payments.

Lucky is also working toward obtaining a payment service provider (PSP) licence, which would enable it to broaden its digital financial services offering in line with evolving regulations in Egypt.

The company’s expansion comes as Egypt advances its digital finance agenda, with regulators introducing new frameworks aimed at improving financial inclusion and enabling fintech growth.