Ayman Eisawy, CEO of Lucky, confirmed that the company has already started the process to obtain a Payment Service Provider (PSP) license. This is a strategic move aimed at supporting Lucky's expansion in digital services and boosting its technological capabilities within the local payments market. Eisawy pointed out that this step comes at a time when Egypt's FinTech sector is experiencing rapid regulatory developments. This is especially true with the notable progress in payment systems and digital infrastructure, along with the introduction of PSP licenses. He sees this as a significant turning point and a great opportunity for companies looking to expand their presence. He added that these regulatory changes open doors for FinTech companies that are ready to grow and comply with new standards. This allows them to offer advanced financial solutions that help drive digital transformation and promote financial inclusion, aligning with the state's goals to digitize the economy and improve the efficiency of financial services. It's worth noting that Lucky recently announced the close of its Series B funding round, raising $23 million in both equity and debt. This reflects investors' confidence in the company's ability to grow and deliver innovative financial services in the Egyptian market.
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