MNT-Halan, Egypt’s leading fintech company and first unicorn, has officially entered the UAE market, marking a significant milestone in its regional expansion across the Gulf Cooperation Council (GCC).
Founded in 2018 by Mounir Nakhla, MNT-Halan was established to digitally bank the unbanked, replacing cash with seamless electronic solutions. Its expansive digital ecosystem includes small and micro-business lending, pre-paid cards, e-wallets, consumer finance, savings, payments, investments, and e-commerce. To date, MNT-Halan has disbursed over $4.4 billion in loans, served 7 million customers, and recorded 2.2 million quarterly active users in Egypt alone.
The company’s entry into the UAE follows earlier successful operations in Turkey and Pakistan. This strategic move aligns with MNT-Halan’s vision of advancing financial inclusion and empowering underserved communities. The launch comes after securing $157.5 million in funding earlier this year to support its geographical expansion.
The first offering in the UAE is Halan Advance, a fast, secure, and user-friendly salary financing solution tailored to meet the needs of the country’s 3.7 million underbanked expatriates. With a combined monthly income exceeding AED 10 billion, this community often faces challenges accessing traditional banking services. Halan Advance provides a seamless digital platform for employees to access early salary advances while enabling businesses to offer credible financial tools to their workforce.
Since establishing its UAE presence in April 2024, Halan UAE has already secured partnerships with leading employers and onboarded over 40,000 customers, with plans to reach 250,000 users by the end of 2025. Global investors, such as Abu Dhabi’s Lunate Fund, have invested in the company, demonstrating confidence in its financial stability and future growth.
Read also: Egypt’s MNT-Halan expands into Turkey with Tam Finans acquisition.
Mounir Nakhla, Chairman and CEO of MNT-Halan, highlighted the strategic importance of the UAE: “The GCC is a powerful hub for financial innovation, and launching in the UAE marks a significant step in our regional expansion. With a GDP exceeding $500 billion and a diverse, fast-growing population, the UAE is a pivotal market to advance financial inclusion and transform lives.”
Omar Ramadan, Managing Director of Halan GCC, added: “Since we launched Halan Advance, we’ve been thrilled with the fast uptake and the positive feedback from businesses and employees alike. This is just the beginning of what we plan to deliver in the UAE—innovative, accessible solutions that empower individuals and businesses.”
MNT-Halan’s expansion into the UAE reflects a growing trend of fintech companies targeting the region’s underbanked population, driven by the UAE’s vibrant financial sector, rapid adoption of digital solutions, and high smartphone penetration. MNT-Halan will redefine financial services in the GCC and beyond, expanding its offerings to include credit, payments, and investment products, driving economic empowerment.
