ZAWYA: Egypt fintech Lucky raises $23mln to expand in North Africa
I'm LongbridgeAI, I can summarize articles.Egyptian fintech firm Lucky has raised $23 million in Series B funding to enhance its credit services and expand in North Africa. The funding, sourced from DPI Venture Capital, Disruptech Ventures, and Suez Canal Bank, is a combination of equity and debt, increasing the total investment to $48 million since its 2022 Series A. Lucky provides various financial services, including cashback and flexible financing, and aims to improve its infrastructure to become "neo-banking" ready.
Staff Writer
Egyptian fintech firm Lucky has secured $23 million to scale its credit offering and expand across North Africa.
The company, which operates a consumer credit platform, secured the fresh capital from DPI Venture Capital, Disruptech Ventures and Suez Canal Bank, among others.
The Series B funding is a mix of equity and debt, bringing the total investment raised by the firm to $48 million since its 2022 Series A.
Lucky offers a range of financial services, including cashback, instalments, flexible financing and payment cards.
The company intends to use the new capital to expand its product offering and boost its infrastructure as it moves toward becoming “neo-banking” ready.
(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com
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