MNT-Halan, an Egyptian fintech company founded in 2018, has raised $157.5 million to fuel its imminent geographical expansion. MNT-Halan aims to digitally bank the unbanked and replace cash with electronic solutions, providing a comprehensive digital ecosystem that includes small and micro-business lending, payments, consumer finance, and e-commerce.
The company’s digital ecosystem also encompasses pre-paid cards, e-wallets, savings, and a variety of financial services. With over 2.2 million quarterly active users, MNT-Halan has disbursed more than $4.4 billion in loans, serving over seven million customers in Egypt.
This latest funding round, which includes $40 million from the International Finance Corporation (IFC), also saw investments from Development Partners International, Lorax Capital Partners, and funds managed by Apis Partners LLP, Lunate, and GB Corp. The round follows previous raises of $400 million in January 2023 and $120 million in September 2021, positioning MNT-Halan well for regional expansion.
“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,” said MNT-Halan founder and CEO Mounir Nakhla. “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.”
