Egyptian fintech powerhouse MNT-Halan has successfully raised a substantial $157.5 million in funding to accelerate its regional expansion plans. The company, founded in 2018 with a mission to digitize financial services for the unbanked, has rapidly grown its user base and loan portfolio.
MNT-Halan’s comprehensive digital ecosystem, encompassing lending, payments, consumer finance, and e-commerce, has already captured the attention of over 2.2 million quarterly active users in Egypt. The company has disbursed more than $4.4 billion in loans, serving over seven million customers.
With this latest funding round, which includes a significant $40 million investment from the International Finance Corporation (IFC), MNT-Halan is poised to expand its footprint beyond Egypt. The additional capital comes from Development Partners International, Lorax Capital Partners, Apis Partners LLP, Lunate, and GB Corp.
This investment marks a new chapter for MNT-Halan, following previous successful fundraising rounds of $400 million in January 2023 and $120 million in September 2021. The company’s founder and CEO, Mounir Nakhla, expressed the company’s commitment to revolutionizing financial services across the region.
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“We are excited to leverage our technology and expertise to expand our reach and impact,” said Nakhla. “The support from the IFC and our existing investors is a testament to our vision and the potential of our business.”
As MNT-Halan embarks on its regional expansion, it aims to replicate its success in Egypt by providing accessible and inclusive financial services to millions more customers across the continent.
