Egypt's Lucky ONE Secures $3 Million in Convertible Bond Funding to Expand Credit Platform

Introduction

Lucky ONE, a prominent consumer finance company operating in Egypt and Morocco, has successfully raised $3 million in a convertible bond funding round. This significant investment aims to propel the company's growth and expansion plans.

Backing from Key Investors

The funding round saw contributions from existing investors, including Lorax Capital Partners, KEM, and DisrupTech Ventures. Their continued support underscores confidence in Lucky ONE’s business model and growth trajectory.

Expanding Credit Platform and Regional Footprint

With the newly secured funds, Lucky ONE is set to enhance its credit platform, aiming to provide more comprehensive and accessible financial services. Additionally, the company plans to leverage this capital to facilitate its entry into new regional markets, broadening its reach and impact.

Milestone Towards Profitability

This funding marks a pivotal milestone for Lucky ONE as it accelerates its journey towards profitability, with a target set for Q1 2025. The company’s strategic focus on expanding its credit offerings and market presence is expected to drive this financial achievement.