MNT-Halan, an Egyptian fintech company, has secured US$157.5 million in funding to facilitate its forthcoming geographical expansion.
After raising US$157.5 million in cash, of which US$40 million came from the International Finance Corporation (IFC), it is now prepared for international expansion. Additional investors included funds run by Apis Partners LLP, Lunate, GB Corp., Development Partners International, and Lorax Capital Partners.
MNT-Halan was established in 2018 with the goal of using digital banking to bank the unbanked and replacing cash with electronic alternatives. Lending to small and micro businesses, payments, consumer finance, and e-commerce are all part of the MNT-Halan digital ecosystem.
Small- and microbusiness financing, consumer finance, e-wallets, pre-paid cards, savings, payments, and e-commerce are all part of the MNT-Halan digital ecosystem. MNT-Halan has served more over seven million consumers in Egypt and disbursed over US$4.4 billion in loans, with over 2.2 million active users on a quarterly basis.
“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.”
The Egyptian fintech company is in a very strong position to grow regionally, having raised US$120 million in September 2021 and US $400 million in January 2023 prior to this round.
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