Egyptian BaaS Fintech Lucky Raises $23M Series B
Lucky, an Egyptian BaaS fintech, closed a $23 million Series B round on April 9, 2026, comprising both equity and debt. The round was led by returning investor Disruptech Ventures alongside new backer DPI Venture Capital through its Nclude fund, with additional participation from Suez Canal Bank and OneStop. The funding will be used to scale Lucky's credit offerings, expand across North Africa, and build out infrastructure to support neo-banking services.
Lucky has grown to serve over 15 million users and has issued more than 500,000 cards. The company achieved profitability in 2025 and is now pursuing a PSP (payment service provider) license. This round follows a $25 million Series A raised in 2022, reflecting continued investor confidence in the MENA BaaS opportunity.
The involvement of Suez Canal Bank underscores the bank-fintech partnership dimension of Lucky's model.
- Signals growing investor appetite for BaaS and embedded finance models in the MENA region
- Lucky's profitability and scale demonstrate viability of BaaS platforms in emerging markets, potentially attracting more competition and investment