Egyptian fintech Lucky ONE raises $3m in convertible note
Lorax Capital Partners, KEM and DisrupTech Ventures participated in the round.
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Cairo-based consumer credit fintech, Lucky ONE, has announced the successful raise of $3 million in a convertible note, bolstering its path to profitability by Q1 2025 and enabling the scaling of its credit lending offering for the Egyptian market. The financing round witnessed participation from existing investors, including Lorax Capital Partners, KEM and DisrupTech Ventures.
Commenting on the financing round, Momtaz Moussa, co-founder and CEO of Lucky ONE, stated: “We are thrilled to have successfully closed this round, which will fuel our ambitious growth plans and support our mission of providing accessible consumer credit solutions to underbanked Egyptians. This round reaffirms the trust our investors have placed in us and solidifies our commitment to achieving sustainable profitability while creating true value in the Egyptian market.”
“On our path to sustainable profitability, Lucky is leveraging its solid collection processes and low default rates to ultra-scale our consumer credit vertical to ensure timely and effective offerings,” he added.
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