Egyptian fintech startup Lucky App has secured $22 million in Series B funding as it pushes into a new stage of expansion focused on credit services, regional growth, and deeper infrastructure investments.
Egyptian fintech startup Lucky App has secured $22 million in Series B funding as it pushes into a new stage of expansion focused on credit services, regional growth, and deeper infrastructure investments.
The Cairo-based company, founded in 2019 by Momtaz Moussa, Ayman Essawy, and Marwan Kenawy, built its early traction through cashback and rewards programs designed to help consumers stretch their spending.
Over time, the platform shifted toward consumer credit, positioning itself as a network that blends payments, financing, and retail discounts into one ecosystem.
Lucky now serves millions of users who rely on the platform to track spending, access flexible credit, and tap into a wide merchant discount network.
The company’s offerings include the Lucky card and instant credit lines designed to simplify everyday purchases while widening financial access.
Also read, Egyptian-based Fintech Lucky closes $25M
The new financing round drew participation from both existing and new backers. Among them are Disruptech Ventures and Development Partners International through its Nclude fund.
Strategic investors also joined the round, including Suez Canal Bank and OneStop, chaired by technology investor Mohamed Farouk. Farouk will also take on the role of chairman of Lucky’s board following the investment.
The raise comes after a strong growth period for the company. Lucky reported tripling its annual growth during 2025 and reaching profitability by the end of the same year.
That performance places it among a small group of African consumer fintech companies that have managed to scale while keeping an eye on financial sustainability.
The company plans to use the capital to expand its credit offerings, extend its presence into North Africa, and strengthen the technology and regulatory infrastructure needed to support digital financial services at scale. Part of that strategy includes preparing the platform for capabilities associated with neo-banking.
Chief executive Ayman Essawy has indicated that the company’s direction is closely tied to the broader push toward digital financial inclusion in Egypt.
He noted that wider access to financial services plays a central role in economic participation, adding that Lucky’s technology stack and AI-driven capabilities help simplify access to credit for consumers who may have previously faced barriers.
The goal is to make credit accessible through a payment card that works across everyday transactions, giving users a more flexible way to manage spending.
Lucky’s expansion comes as Egypt’s fintech sector opens up. Regulators are rolling out rules that support digital onboarding and modern payment systems, giving startups more room to build products that sit closer to traditional banking.
In response, many fintechs that started with narrow use cases are adding credit, payments, and savings to become broader financial platforms.
Lucky began as a rewards app and has moved into credit, with plans that go beyond Egypt. The next challenge is execution: growing in new markets while keeping credit risk under control. If it manages that balance, it could emerge as a leading consumer finance platform in the region.
This post was culled from Disrupt-Africa
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