MNT-Halan Achieves Fourth Securitisation Milestone, Secures $130 Million

Egypt's leading microfinance lending and payments firm, MNT-Halan, achieves fourth securitisation milestone on Thursday (2/11).

The company successfully secured a substantial $130 million in funding through a securitised bond issuance this week.

This achievement marks their fourth securitisation of the year, bringing their total securitised funding for 2023 to an impressive $400 million.

MNT-Halan specializes in offering a range of financial services, including small- and micro-business lending, payments, consumer finance, and e-commerce solutions.

Notably, the company proudly identifies itself as Egypt's very first unicorn, signifying its private technology company status with a valuation exceeding $1 billion.

MNT-Halan Achieves Fourth Securitisation Milestone

To fuel their ambitious growth and expansion plans, MNT-Halan has primarily relied on securitising its loan book, which currently stands at an impressive $650 million.

Remarkably, this loan portfolio continues to expand at a robust rate of 4% to 5% per month, as per an official statement released by the company.

In line with their growth objectives, they have set their sights on securitising a total of $550 million by the end of December.

The recent $130 million securitisation was executed in collaboration with the local investment bank CI Capital, further fortifying MNT-Halan's financial foundation.

With an extensive and steadily growing customer base, MNT-Halan boasts more than 1.5 million active monthly users, underlining its significant presence and impact in the financial and microfinance sectors.

Source: Nasdaq