Egypt’s Lucky fintech strikes it lucky with 10m users

Lucky, a leading fintech platform for credit products, offers and cashback rewards in Egypt and the Middle East, confirmed that more than 10 million people are now using its platform. The fast-growing Egyptian start-up onboarded its latest million customers in September and is showing no signs of slowing down.

The surge in customer growth follows the recent launch of the start-up’s Lucky One Card in June. The new card is uniquely designed to provide a seamless shopping experience for its users while earning up to 5% cashback on every transaction: the highest cashback percentage in Egypt.

Commenting on the startup’s latest achievement, co-founder and chief executive Momtaz Moussa said: “Reaching this milestone signifies immense trust and recognition from our customers, something we are honored to have earned and excited to keep and build upon as we continue to improve our user experience and grow our product offerings. This is our first ten million registered users, and we are excited to earn the trust of many more.”

Since launching in Egypt in 2019, Lucky has dedicated its efforts to providing financial flexibility and increased spending power to MENA, where many consumers have not traditionally had access to credit.

This year alone, Lucky has grown its robust commerce network to reach over 40 000 merchants, raised $25 million Series A funding from an eclectic mix of reputable investors, expanded its services into Morocco, and launched world class products and features to better serve and enhance the shopping experience for its users.

This new milestone is a significant step towards Lucky’s vision to become the leading digital bank and consumer credit network in Egypt and the MENA region.

Lucky co-founder and general manager Ayman Essawy said: “Lucky’s sustained growth is a testament to the team’s strategic excellence and customer-centric approach. Our journey to bridging the consumer credit gap; and revolutionizing the way people shop, pay, and save has only just begun.

“We look forward to the next chapter of deepening relationships with our existing customers, rapidly growing our user base, and providing additional services that make our customers’ financial lives easier.”

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