Egypt’s leading fintech company, MNT-Halan, has successfully raised $157.5 million in funding to support its upcoming international expansion.
Established in 2018, MNT-Halan was designed to provide digital banking solutions to the unbanked and replace cash with electronic options. Its digital ecosystem offers a range of services, including small and micro-business lending, consumer finance, pre-paid cards, e-wallets, savings, payments, and e-commerce.
Currently, MNT-Halan boasts over 2.2 million quarterly active users, has disbursed more than $4.4 billion in loans, and has served over seven million customers in Egypt. With this new capital injection, the company is poised to extend its reach beyond Egypt.
The recent funding round saw $40 million invested by the International Finance Corporation (IFC), with additional contributions from Development Partners International, Lorax Capital Partners, and funds managed by Apis Partners LLP, Lunate, and GB Corp.
This latest funding follows previous raises of $400 million in January 2023 and $120 million in September 2021, positioning MNT-Halan strongly for regional expansion.
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The founder and CEO, MNT-Halan Mounir Nakhla said: “While Egypt remains our primary 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.”
Nakhla also expressed satisfaction with the IFC’s involvement and the continued confidence of existing shareholders in this funding round.
