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Lucky ONE, a prominent Egyptian fintech founded by Ayman Essawy (Chairman), Momtaz Moussa (CEO), and Marwan Kenawy in 2019, has successfully secured $3 million in funding to further expand its operations and explore new markets.
This investment supports Egypt’s broader goal of advancing financial inclusion and improving access to credit for underserved populations. This effort complements other national initiatives, such as the introduction of a new digital payment system, the establishment of the National Financial Inclusion Strategy, and a nationwide financial literacy campaign.
Lucky ONE specializes in providing a range of financial services, including credit, discounts, and cashback, with a focus on serving the unbanked and underbanked populations. The fintech boasts a merchant network of over 20,000 local and international stores, offers instant credit approval, and has amassed over 13 million registered users and 300,000 issued cards. It has previously raised $50 million and operates in Morocco.
Ayman Essawy emphasized Lucky ONE’s commitment to profitability and outlined plans for regional expansion over the next 24 months. He stated that these efforts will position Lucky ONE as a key player in the evolving Egyptian fintech landscape.
CEO Momtaz Moussa highlighted that the new funding will accelerate the company’s growth and support its mission to provide accessible credit solutions to underbanked Egyptians. He pointed out that the company’s effective collection processes and low default rates are integral to scaling its consumer credit services efficiently.
Mohamed Sayed, General Manager of Lucky ONE, added that the fintech’s achievements over the past five years have poised it for a significant expansion, aiming to offer a comprehensive suite of financial services.
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