Egypt and Africa’s First Unicorn (and More)
Published date : 13 May 2024

Egypt and Africa’s First Unicorn (and More)

Egypt's tech ecosystem has experienced remarkable growth and maturation in recent years, culminating in the emergence of unicorn startups.

One of the trailblazers in this journey was Fawry, whose market capitalization soared to an impressive $1 billion following its listing on The Egyptian Exchange in August 2019.

Building upon the success of Fawry, Egypt achieved another significant milestone with the rise of mnt-Halan as a unicorn startup.

In February 2023, mnt-Halan solidified its unicorn status by securing a staggering $400 million in equity and debt financing. This achievement marked a pivotal moment in Egypt's startup landscape, cementing its position as a key player in the region’s tech arena.

Related InfobytesSee All Infobytes