Lucky, a leading fintech super app for credit products, offers, and cashback rewards in Africa and the Middle East region has announced a partnership agreement with Khazenly, an on-demand digital warehousing and fulfillment management platform that offers an omnichannel solution to help merchants digitize their businesses.
This agreement follows Khazenly’s recent $2.5 million seed funding and Lucky’s $25 million Series A from Arzan Venture Capital on March 20, 2022. Khazenly’s merchants and customers will benefit from special offers and privileges as a result of this partnership.
Antony Sobhy, Lucky’s Head of Business Development expressed his delight in partnering with Khazenly to serve their customers. “We are pleased to partner up with Khazenly, which supports facilitating monetary transactions for Khazenly’s network of merchants and providing them with various financial services, as well as providing benefits to our clients based on their needs. This is consistent with our strategy of expanding our customer base by forming more partnerships to help our clients and their businesses.”
This collaboration will also allow Khazenly’s customers to receive the Lucky One card for free, which offers customers 5% cashback on any purchase with the option of installments for those transactions via the Lucky application, among other benefits.
Salma El-Guendy, Head of Marketing at Khazenly, on his part, remarked “At Khazenly, customer centricity is at the core of our values. This is why we are aiming to expand our partnerships and collaborations with the market leaders in the coming period to ensure our service/product offering to our customers is enabling them to grow their business and scale.”
Momtaz Moussa and Ayman Essawy founded Lucky in 2018 as a super app for credit products, offers, and cashback rewards. It also provides users with easy-to-use credit products, discounts, and cashback rewards that can be used in person or virtually with over 20,000 local and global brands.
Since its inception, the startup has grown rapidly, and it now has the largest merchant network in Egypt, as well as over eight million registered users. Its gross merchandise value has increased by 250 percent year on year, and it has recently expanded into Morocco, with plans to become very large in the Middle East and Africa (MENA) region following its recent $25 million Series A round.