Fintech
MNT-Halan Expands with Major Financing and Acquisitions
July 26, 2024
Written by FinTech Alliance in Financial Technology
Egyptian fintech MNT-Halan has secured a significant investment to expand beyond Egypt, headlined by a strategic acquisition in Turkey. The development underscores MNT-Halan’s ambitions to expand its presence in the digital financial services landscape.
– MNT-Halan has raised $157.5 million in new funding, with significant contributions from investors such as International Finance Corporation (IFC), Development Partners International, Lorax Capital Partners and others. This capital injection follows previous substantial rounds, including $400 million in January 2023.
– In addition to financing, MNT-Halan has acquired a fintech company in Turkey. This acquisition is part of MNT-Halan’s strategy to leverage its technological expertise and expand its services to new markets, enhancing its digital ecosystem to include lending, payments and e-commerce solutions.
– Founded in 2018, MNT-Halan aims to revolutionize financial services for the unbanked and underserved. The company has already issued over $4.4 billion in loans and served millions of customers in Egypt. Its latest funding and acquisitions are set to accelerate its international expansion and enhance its service offerings.