MNT-Halan Expands with $157.5 Million Funding Boost
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Egypt's leading FinTech company and first unicorn, MNT-Halan, has successfully raised $157.5 million in a recent funding round. This significant investment included $40 million from the International Finance Corporation (IFC), with the rest contributed by Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp.
This new funding follows previous rounds that have collectively raised $520 million over the past two years, reinforcing MNT-Halan’s strong position for regional growth.
Founder and CEO Mounir Nakhla highlighted the company's strategic vision: “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 licenses. 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.”
Source: FinTech Global
MNT-Halan
MNT-Halan, a fintech ecosystem in Egypt, was formed through the acquisition of Halan by MNT Investment in June 2021. It offers various financial services, including Buy Now Pay Later, microfinance, and payments solutions that aims to bank the unbanked. Users can disburse, collect, and transfer money digitally through mobile applications.
Lorax Capital Partners
Lorax Capital Partners is a private equity firm.
IFC Venture Capital Group
The International Finance Corporation (IFC) is the premier global development institution dedicated to fostering private sector growth in developing countries, thereby catalyzing economic development and enhancing livelihoods.
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