Naspers Ltd, has invested in Egyptian fintech firm Lucky to boost its expansion in the North African and Middle East region. The app for credit products, offers, and cashback rewards has secured $25 million in the funding round, led by Nclude. Other parties that participated in the round included PayU, Global Ventures, National Bank of Egypt, Venture Souq, Banque Misr, Banque du Caire, among several others. Lucky is prioritizing markets with a sizable population, low credit penetration and similar macroeconomic dynamics to Egypt.
Naspers is a global consumer internet group and one of the largest technology investors in the world. Operating and investing in countries and markets across the world with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. The group operates and partners several leading internet businesses across the Americas, Africa, Central and Eastern Europe, and Asia in sectors including online classifieds, food delivery, payments, travel, education, health, and social and internet platforms.