MNT-Halan Secures $157.5 Million to Drive FinTech Innovation and Expansion

MNT-Halan, a prominent player in Egypt’s FinTech sector, has successfully raised $157.5 million in its latest funding round. This significant investment includes $40 million from the International Finance Corporation (IFC) and additional contributions from Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp. The funding follows previous raises totaling $520 million over the past two years, reinforcing MNT-Halan’s strong position for regional growth.

“While Egypt remains our primary market, we are committed to revolutionising access to financial services through technology beyond Egypt’s borders,” said Mounir Nakhla, founder and CEO of MNT-Halan. “Our M&A strategy leverages our technology and industry expertise while tapping into our partners’ local knowledge, management capabilities, and licenses. We are delighted to have the IFC on board and appreciate the continued confidence from our current shareholders.”

Since its founding in 2018, MNT-Halan has seen substantial growth, expanding its customer base over 20-fold to serve more than seven million users. The Halan app, its digital platform, now offers a wide range of services, including various types of loans, prepaid cards, e-wallets, e-commerce, gold, and money market fund investments, with plans for further feature additions.

The legal aspects of the transaction were managed by Maatouk Bassiouny & Hennawy and Van Campen Liem for MNT-Halan, while Hogan Lovells, Freshfields, and Gibson Dunn advised the subscribers. Financial advice for GB Corp was provided by Arqaam Capital.

MNT-Halan’s rapid rise in Egypt’s FinTech landscape is marked by its innovative approach to financial services, serving over 2.2 million quarterly active users and disbursing more than $4.4 billion in loans.