Egyptian Fintech MNT-Halan Raises $157.5M to Fund Geographic Expansion

Egyptian fintech firm MNT-Halan has raised $157.5 million in funding to support its upcoming geographic expansion.

Founded in 2018, MNT-Halan It was created to provide digital banking for the unbanked and replace cash with electronic solutions. The MNT-Halan digital ecosystem includes small and micro business lending, payments, consumer finance and e-commerce.

The MNT-Halan digital ecosystem includes small and micro business lending, consumer finance, prepaid cards, e-wallets, savings, payments and e-commerce. With over 2.2 million quarterly active users, MNT-Halan has issued over $4.4 billion in loans and served more than seven million customers in Egypt.

It is now ready for international expansion after raising $157.5 million in capital, including $40 million from the International Finance Corporation (IFC). Other investors included Development Partners International, Lorax Capital Partners and funds managed by Apis Partners LLP, Lunate and GB Corp.

The current round follows increases of $400 million in January 2023 and $120 million in September 2021, making the Egyptian fintech company extremely well positioned for further regional expansion.

“While Egypt remains our core market, we are committed to revolutionizing access to financial services through technology beyond Egypt’s borders. Our M&A strategy capitalizes 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 delighted to have IFC on board and to see the continued confidence of our existing shareholders through their participation in this round.”

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