MNT-Halan Raises $157.5 Million to Accelerate Regional Expansion

CAIRO — MNT-Halan, Egypt's premier fintech powerhouse and the country's first unicorn, has successfully raised a total of $157.5 million. The funding round was anchored by a $40 million investment from the International Finance Corporation (IFC), with the remainder provided by Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp.

This capital injection follows prior major raises of $400 million in January 2023 and $120 million in September 2021, positioning the company exceptionally well for regional scaling.

“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,” said Mounir Nakhla, Founder and CEO of MNT-Halan.

Since its inception, MNT-Halan has expanded more than 20-fold to serve over 7 million customers. The Halan digital ecosystem features a comprehensive suite of financial offerings, including business and consumer loans, prepaid cards, e-wallets, e-commerce, gold, and money market fund investments.

Legal counsel for the transaction was provided by Maatouk Bassiouny & Hennawy and Van Campen Liem for MNT-Halan, while Hogan Lovells, Freshfields, and Gibson Dunn represented the subscribers. Arqaam Capital acted as financial advisers to GB Corp.

Learn More at: https://mnt-halan.com/2024/08/08/mnt-halan-raises-circa-us-160-million-from-international-investors/