Egyptian fintech, MNT-Halan, raises $157.5m in financing to extend market penetration

Egyptian FinTech company, MNT-Halan has raised $157.5 million in funding, including $40 million from the International Finance Corporation (IFC), with the remainder coming from Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp.
With the funding now secured, MNT-Halan intends to revolutionize access to financial services for individuals and enterprises in the country via its digital platform, claiming to serve “millions”.
MNT-Halan was founded in 2018 with the goal of providing digital banking services to the unbanked and replacing cash with electronic alternatives.
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The company’s digital ecosystem includes lending to small and micro businesses, payment processing, consumer financing, and e-commerce services.
Mounir Nakhla, founder and CEO of MNT-Halan, emphasised the strategic direction of the company, stating, “While Egypt remains our primary market, we are committed to revolutionising access to financial services through technology beyond Egypt’s borders.
‘‘Our M&A strategy capitalises on our technology and industry expertise while leveraging our partners’ local knowledge, management capabilities, and licences. 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.”
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