Cairo - Mubasher: Lucky, Egypt’s leading application for credit products, offers, and cashback, has secured a $25 million investment in a Series A funding round, according to a press release on Sunday.
The round was led by Global Ventures’ Nclude, in addition to PayU, Endeavor Catalyst, Venture Souq, Oman Technology Fund (OTF), Arzan Capital, and DisrupTech Ventures.
Lucky will use the proceeds of the funding to endorse market leadership and build out its credit capabilities.
Co-Founder of Lucky, Momtaz Moussa, said: “We are delighted to complete this $25 million fund raise. The MENA region’s huge unbanked, young population and cash-dominated economy is a significant market opportunity for us.”
Ayman Essawy, who is also the Co-Founder of Lucky, commented: “We look forward to continuing our rapid growth, increasing our eight million-strong active user base, and building out our credit capabilities with the support and guidance of our investors.”
More than 8 million active users benefit from Lucky’s platform through its discounts and cashback rewards.
