MNT-Halan, Egypt’s premier fintech company and the nation’s first unicorn, has officially entered the United Arab Emirates (UAE) market, marking a significant milestone in its rapid regional expansion. This move underscores MNT-Halan’s commitment to extending its innovative financial solutions across the Middle East.
Founded in 2018, MNT-Halan was established with the mission to digitally bank the unbanked and replace cash transactions with electronic solutions. The company’s comprehensive digital ecosystem encompasses a wide range of services, including 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 more than US$4.4 billion in loans and served over seven million customers in Egypt.
Earlier this year, Innovation Village reported that MNT-Halan was poised for further international expansion after securing US$157.5 million in capital. Following successful launches in Egypt, Turkey, and Pakistan, the company has now made its entry into the UAE market.
MNT-Halan’s first offering in the UAE is Halan Advance, a fast, secure, and user-friendly salary financing solution designed to meet the needs of the local market. This initial service will be followed by additional offerings from MNT-Halan’s extensive ecosystem, further enhancing financial inclusion and accessibility in the region.
“The GCC is a powerful hub for financial innovation, and launching in the UAE marks a significant step in our regional expansion. With a GDP exceeding US$500 billion and a diverse, fast-growing population, the UAE is a pivotal market to advance financial inclusion and transform lives,” said Mounir Nakhla, Chairman and CEO of MNT-Halan.
The expansion into the UAE represents a strategic move for MNT-Halan, leveraging the country’s robust economic landscape and its status as a center for financial innovation. By introducing its cutting-edge financial solutions, MNT-Halan aims to address the needs of the unbanked and underbanked populations, fostering greater financial inclusion and economic empowerment.
As MNT-Halan continues to grow its presence in the UAE, it remains dedicated to its core mission of transforming lives through innovative financial services. The company’s expansion is set to bring significant benefits to the region, offering accessible and efficient financial solutions that cater to a wide range of needs.
