Egyptian Fintech Company MNT-Halan Secures $157.5 Million For International Expansion
Egyptian fintech company MNT-Halan has raised $157.5 million in funding to support its imminent geographical expansion.
This latest funding round includes $40 million from the International Finance Corporation (IFC), alongside investments from Development Partners International, Lorax Capital Partners, and funds managed by Apis Partners LLP, Lunate, and GB Corp.
The current round follows the raise of $400 million in January 2023 and $120 million in September 2021, making the Egyptian fintech company extremely well-positioned to further expand regionally.
“While Egypt remains our primary market, we are committed to revolutionising access to financial services through technology beyond Egypt’s borders. Our M&A strategy capitalises on our technology and industry expertise while leveraging our partners’ local knowledge, management capabilities, and licenses,” said MNT-Halan founder and CEO Mounir Nakhla.
“We are happy to have the IFC on board and to see the continued confidence from our current shareholders through their participation in this round.”
Founded in 2018, MNT-Halan was created to digitally bank the unbanked and replace cash with electronic solutions.
The MNT-Halan digital ecosystem encompasses small and micro-business lending, consumer finance, pre-paid cards, e-wallets, savings, payments, and e-commerce. With over 2.2 million quarterly active users, MNT-Halan has disbursed over $4.4 billion in loans and served more than seven million customers in Egypt.
