MNT-Halan raises $157.5mn for expansion plans beyond Egypt

user icon
GHADA.ISMAIL
calender icon
Jul 21, 2024
article image

Cairo – Sharikat Mubasher: Egypt-based MNT-Halan for financial solutions managed to secure $157.5 million in a new funding round to fuel its regional expansion.

The International Finance Corporation (IFC) contributed $40m to the round, with the remainder coming from Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp, according to a press release by the company.

The latest investment brings MNT-Halan’s total funding to $677.5m over the past two years.

Mounir Nakhla, founder and CEO of MNT-Halan commented: “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.”

Since its launch in 2018, MNT-Halan has grown rapidly, expanding its customer base 20-fold to more than seven million users. The company’s Halan app offers a range of financial services, including loans, prepaid cards, e-wallets, e-commerce, gold, and money market fund investments.

MNT-Halan has disbursed more than $4.4bn in loans and has 2.2 million quarterly active users.


Share

Related News

PoS sales volume in Saudi Arabia rises by 12% in May
News
Calendar Icon
June 30, 2025
PoS sales volume in Saudi Arabia rises by 12% in May
Read More
JeelPay, King Abdulaziz University to offer innovative tuition installment solutions
News
Calendar Icon
June 25, 2025
JeelPay, King Abdulaziz University to offer innovative tuition installment solutions
Read More
Alsulaiman Group acquires Taajeer Finance to lead financial services growth
News
Calendar Icon
June 19, 2025
Alsulaiman Group acquires Taajeer Finance to lead financial services growth
Read More
NayaOne partners with AstroLabs to launch fully Saudi-hosted fintech platform
News
Calendar Icon
June 16, 2025
NayaOne partners with AstroLabs to launch fully Saudi-hosted fintech platform
Read More
PoS sales in Saudi Arabia touch SAR 52 bn in April
News
Calendar Icon
June 2, 2025
PoS sales in Saudi Arabia touch SAR 52 bn in April
Read More
WaffarX, DGTERA partner to boost customer loyalty in F&B sector
News
Calendar Icon
May 27, 2025
WaffarX, DGTERA partner to boost customer loyalty in F&B sector
Read More
Numu Angels launches “Numu Angels Syndicates” in partnership with Rundet
News
Calendar Icon
May 18, 2025
Numu Angels launches “Numu Angels Syndicates” in partnership with Rundet
Read More
Saudi Arabia to host Fintech Revolution Summit 2025 in Riyadh on 3 July
News
Calendar Icon
May 7, 2025
Saudi Arabia to host Fintech Revolution Summit 2025 in Riyadh on 3 July
Read More
Fawry, Microsoft cooperate to empower SMEs with integrated digital-financial solutions
News
Calendar Icon
May 4, 2025
Fawry, Microsoft cooperate to empower SMEs with integrated digital-financial solutions
Read More
SAMA licenses Tamawal as newest finance aggregator in Saudi Arabia
News
Calendar Icon
April 29, 2025
SAMA licenses Tamawal as newest finance aggregator in Saudi Arabia
Read More