Egyptian fintech Lucky has closed a $23 million Series B round — a mix of equity and debt — to scale its consumer credit platform and pursue expansion across North Africa, in one of the more significant fintech raises to emerge from Egypt’s market this year.
The round was led by existing investors Disruptech Ventures and DPI Venture Capital via the Nclude fund, with new strategic participation from Suez Canal Bank and OneStop, a tech investment vehicle chaired by Mohamed Farouk, who has been appointed Chairman of Lucky’s board. The company reported 3x annual growth in 2025 and reached profitability by year-end — a milestone that strengthens its position ahead of the expansion push.
Lucky is using the capital to scale its credit offering, build out technology and risk infrastructure, and pursue PSP licensing as it moves toward becoming a neo-banking platform. CEO Ayman Essawy pointed to recent regulatory advances in Egypt — including digital onboarding frameworks, payments infrastructure development, and PSP licensing — as enabling conditions for the company’s next phase. The company has built partnerships across merchants and financial institutions and serves a growing user base across Egypt.
The Suez Canal Bank’s participation as a strategic investor is notable, pointing to the growing appetite among Egyptian incumbent financial institutions to back fintech challengers rather than compete with them directly.
Editor’s Note: Lucky’s Series B lands at a moment when Egypt’s fintech regulatory environment is genuinely opening up — the Central Bank’s digital onboarding and PSP licensing moves are creating real commercial pathways rather than just policy signals. The North Africa expansion angle is one to watch closely: Morocco, Tunisia, and Algeria represent very different regulatory environments, and how Lucky sequences its entry will be instructive for the region’s broader fintech internationalisation story.
