MNT-Halan’s valuation to exceed $1 billion with $400 new investment

MNT-Halan, one of Egypt’s largest and fastest growing lender to the unbanked and underbanked, announced that it has raised more than $200 million in equity from Chimera Abu Dhabi in exchange for over 20% of the company. It also announced that two securitizations totaling $140 million through subsidiaries Tasaheel Microfinance Company (Tasaheel) and Halan Consumer Finance (Halan) with Commercial International Bank (CIB), Egypt’s largest private sector bank.

MNT-Halan said that the company is in advanced stages with leading international investors to raise $60 million of primary capital. Following the completion of these investments, MNT-Halan’s valuation will exceed $1 billion.

MNT-Halan raised US$120 Million investment from global investors in 2021 and recently acquired B2B e-commerce platform Talabeyah for an undisclosed amount.

Founded in 2018 and headquartered in Cairo, MNT-Halan was created to digitally bank the unbanked and substitute cash with electronic solutions.

With 1.3 million monthly active users, MNT-Halan serves more than 5 million customers in Egypt, of which 3.5 million are financial clients and over 2 million are borrowers.

Seif Fikry, CEO of Chimera Abu Dhabi, said, “We are thrilled to be part of Egypt’s greatest fintech success story. MNT-Halan’s upward trajectory and momentum reflect the management team’s realization of its extraordinary vision to transform a high touch business by seamlessly infusing an unparalleled proprietary tech platform while increasing
product depth for its target customer segment.”

MNT-Halan Founder and CEO, Mounir Nakhla, added, “As one of the region’s premier and most progressive investors, Chimera Abu Dhabi brings a unique and dedicated understanding of our business. Having the backing of Chimera Abu Dhabi is of significant support to the execution of our strategy. The timing of the transaction is also a testament to our ability to significantly increase our revenues and open new revenue streams while growing our bottom line, despite the macro-economic situation. I am excited for what lies ahead as we continue to grow both organically and inorganically by offering cutting edge financial products and services locally and internationally to empower the underserved.”