Egyptian Fintech Company MNT-Halan Secures $157.5 Million for International Expansion

Egyptian fintech company MNT-Halan has successfully raised $157.5 million in a funding round aimed at supporting its international expansion.

This latest funding round includes $40 million from the International Finance Corporation (IFC), alongside investments from Development Partners International, Lorax Capital Partners, and funds managed by Apis Partners LLP, Lunate, and GB Corp.

Following a $400 million raise in January 2023 and $120 million in September 2021, MNT-Halan is now strategically positioned to expand its operations regionally.

“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.”

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

The MNT-Halan digital ecosystem encompasses small and micro-business lending, consumer finance, prepaid cards, e-wallets, savings, payments, and e-commerce. With over 2.2 million quarterly active users, MNT-Halan has disbursed over $4.4 billion in loans and served more than seven million customers in Egypt.