Lucky ONE Secures $3 Million Financing to Fuel Expansion and Innovation
Lucky ONE, one of the leading consumer credit companies in Egypt and Morocco, has recently secured a $3 million financing through convertible bonds. This funding round was led by renowned investors such as Lorax Capital Partners, KEM, and DisrupTech Ventures.
The capital will be used to expand Lucky ONE's credit platform and support its expansion into new regional markets. The company also aims to enhance its credit offerings, focusing on innovation and customer satisfaction.
This financing represents a crucial step for Lucky ONE as it accelerates its path towards profitability, with a target set for the first quarter of 2025. The company plans to invest in technologies and solutions that will enable it to respond more effectively to its customers' needs, while maintaining its leadership position in the Egyptian and Moroccan markets.
The success of this funding round testifies to the investors' confidence in Lucky ONE's vision and growth potential. By diversifying its products and expanding into new markets, Lucky ONE is well-positioned to consolidate its presence in the North African FinTech sector.
With this new financial backing, Lucky ONE is preparing to play an even more significant role in promoting financial inclusion in the region, by facilitating access to credit for a larger number of consumers and contributing to local economic development.
