Cairo – Sharikat Mubasher: Egypt’s leading app for credit products, offers & cashback rewards, Lucky One, announced the successful closure of a $3 million funding round to expand its loan services and enhance its path towards profitability by the 1st quarter of 2025.
This funding round was led by new investors with the participation of current ones’ including Lorax Capital Partners, KEM, and DisrupTech Ventures, according to the company’s press release.
Commenting on this event, Momtaz Moussa, co-founder & CEO of Lucky One said: “We are thrilled to successfully close this fundraiser which will be dedicated to nurturing our ambitious growth plan to provide easily accessible credit solutions for all Egyptians who do not prefer to deal with banks. This round reflects investors’ confidence in our company and encourages us to achieve sustainable profitability alongside creating a real value added in the Egyptian market”.
Mohammed Said, Managing Director of Lucky One highlighted his positive vision for leading commercial operations in Egypt saying: “Lucky One managed to create a great momentum on a 5-year timespan in preparation for the next step to come up with a comprehensive pack of financial services, starting cashbacks, discounts to loaning to be able to address our clients’ financial requirement”.
Ayman Essawy, co-founder and board member further asserted his company’s commitment to achieve profitability and expansion in new regional markets within the coming 24 months.
