Egyptian fintech company Lucky has secured $23 million in a Series B funding round to expand its credit offerings and digital banking services across North Africa. The round, announced on April 7, 2026, was led by new investor Nclude, a venture capital fund backed by Egypt's three largest state-owned banks, with participation from existing backer Algebra Ventures.

The capital injection will be used to accelerate Lucky's growth in its home market and fund its entry into Morocco and Tunisia later this year. Founded in 2021, Lucky provides small, short-term loans to consumers via its mobile application, targeting a segment often underserved by traditional banks. The company has disbursed more than 5 million loans to date, according to its statements.

Momen Moataz, co-founder and chief executive of Lucky, said the funding validates the company's mission to improve financial inclusion.

This investment is a testament to the trust our investors have in our vision to democratize access to financial services across North Africa,

Moataz stated. The company plans to leverage the funds to develop a more comprehensive suite of financial products, moving beyond credit to offer savings and payment solutions, with an ultimate goal of evolving into a fully licensed digital bank.

The move comes amid a broader push for digital financial services in North Africa, a region with high mobile phone penetration but where a significant portion of the population remains outside the formal banking system. Lucky's expansion strategy will see it compete in markets where digital lending and neobanking are gaining traction, though regulatory frameworks can vary significantly between countries.

In a separate development highlighting the growth of digital banking in Africa, the Ivory Coast-based fintech Djamo recently announced it had reached one million active customers and raised $17 million in equity funding. Djamo, which operates in Francophone West Africa, is also focusing on providing digital-first banking services, indicating a continent-wide trend of fintechs aiming to serve customers who have been traditionally excluded.

For Lucky, the new capital marks a significant step in its scaling ambitions. The involvement of Nclude, whose limited partners include the National Bank of Egypt, Banque Misr, and Banque du Caire, provides not only financial backing but also potential strategic partnerships within the Egyptian financial ecosystem. The company's focus on building a full-spectrum digital bank reflects a common evolution for successful fintech lenders, which often seek to deepen customer relationships by offering a wider array of financial tools.