Private investing firm Chimera Abu Dhabi has acquired a 20% stake in Egyptian fintech MNT-Halan for $200 million. MNT-Halan is currently negotiating with investors for an additional $60 million funding round, which would enhance the company’s valuation to over $1 billion. Additionally, the firm has successfully raised $140 million through two securitized bond issuances.
MNT-Halan is focused on building a comprehensive fintech ecosystem aimed at providing Egypt’s underbanked population with access to business loans, consumer finance solutions, payment services, and e-commerce offerings, all supported by its proprietary technology, Neuron.
Founded in 2018, MNT-Halan now serves five million customers across Egypt, including 3.5 million financial clients and over two million borrowers. CEO Mounir Nakhla expressed enthusiasm for the company’s future, stating, “I am excited for what lies ahead as we continue to grow both organically and inorganically by offering cutting-edge financial products and services locally and internationally to empower the underserved.”