Cairo – Mubasher: MNT-Halan, Egyptian first unicorn and fintech leader, has secured $157.50 million in new funding.
The financing round includes $40 million investment from the International Finance Corporation (IFC), with contributions from Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp, according to a press release.
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 licences.”
“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,” Nakhla added.
In February 2024, MNT-Halan raised $400 million in equity and debt financing from local and global investors, with a valuation of $1 billion.
Since its inception, MNT-Halan has grown over 20 times, now serving over 7 million customers. The Halan app offers business and consumer loans, prepaid cards, e-wallets, e-commerce, gold investments, and money market fund investments, with more services coming soon.
Maatouk Bassiouny & Hennawy and Van Campen Liem advised MNT-Halan, while Hogan Lovells, Freshfields, and Gibson Dunn advised the subscribers. Arqaam Capital was the financial advisor to GB Corp.
