Lucky App Raises $22 Million to Fuel Regional Expansion and Neo-Banking Capabilities

Cairo-based fintech startup Lucky App has secured $22 million in a Series B funding round, signaling growing investor confidence in the company’s vision for consumer finance in Egypt and beyond. Founded in 2019 by Momtaz Moussa, Ayman Essawy, and Marwan Kenawy, Lucky initially gained traction through cashback rewards but has since evolved into a comprehensive financial platform.

The new funding round included participation from existing investors like Disruptech Ventures and Development Partners International’s Nclude fund, along with strategic additions such as Suez Canal Bank and OneStop. Technology investor Mohamed Farouk, who chairs OneStop, will also assume the role of Lucky’s chairman following the investment.

Strong Growth Performance Precedes New Funding

Lucky reported tripling its annual growth in 2025 and achieving profitability by year-end, a notable accomplishment for African consumer fintech companies. The platform now serves millions of users who rely on it for spending tracking, credit access, and merchant discounts.

Future Plans Focus on Credit Expansion and Neo-Banking Features

The company intends to use the capital to broaden its credit offerings, extend into North Africa, and enhance regulatory compliance infrastructure. A key component of this strategy involves preparing Lucky’s platform for neo-banking capabilities—integrating payments, financing, and other services into a single digital experience.

“Our direction is closely tied to Egypt’s push for greater financial inclusion,” said CEO Ayman Essawy. “We aim to make credit accessible through everyday transactions, giving users more flexible spending management tools.”

The Egyptian fintech sector has been opening up with regulatory support for digital onboarding and modern payment systems, enabling companies like Lucky to expand beyond niche use cases toward broader financial platforms.