In a move reflecting significant shifts in the FinTech landscape, Lucky announced the appointment of technology investor Mohamed Farouk as its Chairman. This comes alongside the successful closure of a Series B funding round, raising $23 million through a mix of equity and debt. This signals growing confidence in the company's business model and its ability to achieve sustainable growth. The round saw participation from both existing and new investors, including Disruptech Ventures and DPI Venture Capital through the Nclude fund, along with strategic contributions from Suez Canal Bank and OneStop. This reflects increasing institutional support for Lucky's journey, especially given the rapid expansion of the FinTech sector in Egypt and the wider region.
Related editorial
Egyptian SMEs Get AI Boost for Global Exports Through New Partnership
Egypt's Micro, Small, and Medium Enterprises Development Authority (MSMEDA) and EXBY have signed a letter of intent for a strategic partnership. This collaboration aims to leverage artificial intelligence and modern digital tools to help export-ready Egyptian businesses reach new global markets, boosting their contribution to national exports and improving their competitiveness.
Qualcomm, Aramco, and Humanain Announce 10 Startups for Saudi AI Program DISAI 2026
Qualcomm, Aramco, and Humanain have teamed up to select 10 exciting startups for the DISAI 2026 program. This initiative aims to supercharge AI innovations, with 8 Saudi companies and 2 international firms joining the cohort.
Oman Future Fund Invests in gatekey.money to Drive Digital Financial Services and Transformation
The Oman Future Fund has announced its investment in gatekey.money through R&D Capital. This exciting move aims to boost digital payments, foster innovation, enhance financial inclusion, and accelerate digital transformation across Oman.
Paymob Teams Up with Tap Digital Business Card to Boost Sales and Digital Transformation
This exciting partnership aims to bring together all sales team and merchant interaction data onto a single platform. This means every communication, meeting, and follow-up can be easily recorded in one complete digital log, making sales processes much smoother and more efficient.