Egyptian fintech unicorn MNT-Halan is preparing for regional expansion after securing approximately $157.5 million in funding.
The International Finance Corporation has invested $40 million in MNT-Halan, with participation from Development Partners International, Lorax Capital Partners, and funds managed by Apis Partners LLP, Lunate, and GB Corp.
MNT-Halan is developing a comprehensive fintech ecosystem aimed at providing Egypt’s underbanked population with various financial services, including business and consumer loans, prepaid cards, e-wallets, e-commerce solutions, gold investments, and money market fund options, with additional services set to launch soon.
Since its inception in 2018, utilizing its own proprietary technology, the startup has expanded over 20 times and currently serves more than 7 million customers.
Mounir Nakhla, CEO of MNT-Halan, stated, “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 leverages our technology and industry expertise while drawing on our partners’ local knowledge, management capabilities, and licenses.”