Cairo, Egypt – MNT-Halan, Egypt’s leading fintech company and the country’s first unicorn, has raised $157.5 million in a recent funding round.
The International Finance Corporation (IFC) contributed $40 million, with additional investments from Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp. This funding follows previous investments totaling $520 million over the last two years, reinforcing MNT-Halan’s position for regional growth.
Founder and CEO Mounir Nakhla expressed the company’s vision: “Egypt is our primary market, but we are committed to extending access to financial services through technology beyond our borders. Our strategy leverages our technology and industry expertise, alongside our partners’ local knowledge and management capabilities. We are pleased to welcome IFC and appreciate the ongoing support from our existing shareholders.”
Since its inception, MNT-Halan has expanded its user base over 20-fold, now serving more than seven million customers. Its Halan app offers services like loans, prepaid cards, e-wallets, e-commerce, gold, and money market fund investments, with plans to introduce more features soon.
Legal matters for the transaction were handled by Maatouk Bassiouny & Hennawy and Van Campen Liem for MNT-Halan, while Hogan Lovells, Freshfields, and Gibson Dunn represented the investors. Financial advice was provided by Arqaam Capital to GB Corp.
Founded in 2018, MNT-Halan has rapidly transformed Egypt’s fintech landscape. The company boasts over 2.2 million active users each quarter and has disbursed more than $4.4 billion in loans.
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