MNT-Halan, Egypt’s premier FinTech unicorn, has successfully closed a substantial funding round, amassing $157.5 million. This financial boost, led by the International Finance Corporation (IFC) and supplemented by key investments from Development Partners International (DPI), Lorax Capital Partners, Apis Partners LLP, Lunate, and GB Corp, underscores the firm’s robust market positioning and ambitious regional growth plans.
The recent funding round saw IFC contributing $40 million, while the remaining $117.5 million came from a consortium of existing and new investors. This marks another significant milestone for MNT-Halan, following a cumulative raise of $520 million over the past two years. A couple of months ago, it also acquired Advans Pakistan Microfinance bank. The sustained investment demonstrates unwavering confidence in the company’s vision and operational execution.
Mounir Nakhla, the founder and CEO of MNT-Halan, highlighted the strategic direction and regional aspirations of the company. “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. 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,” Nakhla stated.
Since its inception in 2018, MNT-Halan has experienced exponential growth, expanding its customer base over 20-fold to serve more than seven million users. The company’s digital platform, the Halan app, has continually evolved, offering a comprehensive suite of services that includes various types of loans, pre-paid cards, e-wallets, e-commerce, gold, and money market fund investments. Future updates promise to introduce additional features, further solidifying MNT-Halan’s position as a leader in financial technology.
With more than 2.2 million quarterly active users and over $4.4 billion in loans disbursed, MNT-Halan has firmly established itself as a transformative force in Egypt’s financial services landscape.
The strategic investments secured by MNT-Halan are set to accelerate its regional expansion and enhance its financial service offerings. The company’s innovative approach and strategic partnerships will be pivotal in scaling its operations and reaching new markets.
