After raising $520 million over the past three years, Egyptian financial services company MNT-Halan has secured an additional $157.5 million to fuel its growth beyond its domestic market.
Egyptian fintech MNT-Halan announced on July 20 that it has raised $157.5 million to support its growth and geographical expansion.
Of this amount, the International Finance Corporation (IFC) invested $40 million in equity. The remaining capital was provided by five previous investors: Development Partners International, Lorax Capital Partners, Apis Partners, Lunate, and GB Corp.
MNT-Halan plans to use this funding to expand beyond Egypt, though the targeted countries have not been disclosed.
"While Egypt remains our primary market, we are committed to revolutionizing access to financial services beyond Egyptian borders," said Mounir Nakhla, CEO of MNT-Halan.
This funding round follows $400 million and $120 million raises by the fintech in January 2023 and September 2021, respectively. Co-founded in 2018 by Mounir Nakhla and Ahmed Mohsen, MNT-Halan claims to have provided over $4.4 billion in loans to more than 7 million customers in Egypt to date.
The company offers financial solutions including microloans, consumer credit, savings solutions, and mobile payments for individuals and businesses.
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Mobile phones have become essential tools for work, education, payments and staying connected across...
Government orders talks to set “fair” Jet A1 prices Fuel costs jump nearly 267% in two months, straining airlines Sector warns of flight disruptions...
New 50 MW solar plant aims to improve power supply in rural Luapula Project reflects shift away from hydro dependence after 2024 drought Government...
Petrosen takes full control of Yakaar-Teranga gas project Government hails deal as a strategic recovery with no financial cost Timeline targets first...
PHC targets in-house refining to move up the value chain Project depends on output growth that has slowed in recent years Expansion comes as Congo...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...