MNT-Halan’s SME Lending Market Share & Number of Borrowers (2018 vs 2022)

Founded in 2017 by Mounir Nakhla and Ahmed Mohsen, MNT-Halan made its debut as a ride-hailing platform centered in Zamalek, Giza. The founders got their start to build the ride-hailing platform, following a US $2.5 million Seed round raised between November 2017 and March 2018.

Subsequent rounds followed, starting with Halan’s Series A, which closed at $4.4 million at the back end of 2018. An additional $15 million Series B funding round was disclosed in 2020.

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Investing in Egypt’s Startup Ecosystem

Micro, Small and Medium Enterprises contribute over 40% to Egypt’s economy, and account for over 75% of the country’s total employment. Entrepreneurship is critical to Egypt’s future. Today, Egypt consistently ranks as a top 3 tech startup ecosystem in both the MENA and Africa regions, based on funds raised by local startups. In this special report, we speak to the most active investors in Egypt and cover some of the country’s most successful startups to give you an inside scoop on how they are navigating the current VC winter, inflationary pressures and currency devaluation woes.

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