Fintech company Lucky One from Egypt secures $3 million in new funding, aiming to expand its platform offering discounts and credit services.
Lucky One Raises $3 Million to Expand Credit Services
Lucky One, a popular fintech startup based in Cairo, Egypt, has secured $3 million in funding from existing investors. The funding round aims to propel the company towards profitability by the first quarter of 2025.
Founded in 2019 by Dsquares, a local loyalty and rewards solutions provider, Lucky One initially offered consumers a platform to access cashback, discounts, and rewards. Over time, the product has evolved to include a physical card and credit in the form of installments on shopping with its partners.
With over 10,000 websites and stores in Egypt, Lucky One boasts the largest merchant network in the country. This extensive network allows customers to enjoy rewards and offers across a wide range of retailers.
Investors in this round include Lorax Capital Partners, KEM, and DisrupTech Ventures. The funding was received in the form of a convertible note, the specifics of which have not been disclosed.
Momtaz Moussa, co-founder and CEO of Lucky One, expressed excitement about the funding round and its potential for growth. However, detailed information about Lucky One's expansion plans or targeted future markets remains scarce.
The latest funds will be used to expand Lucky One's credit services, but for specifics about the company's strategic plans, it is recommended to check their official website, press releases, recent interviews, or fintech news updates.
As for fintech expansion trends and attractive markets in 2025, further analysis is available upon request.
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