MNT-Halan secures $157.5M to fuel regional expansion
Updated 7/21/2024 6:20:00 AM
Arab Finance: MNT-Halan, Egypt’s fintech unicorn, has raised $157.5 million from international investors to accelerate its geographical expansion beyond Egypt, as per an emailed press release to Arab Finance.
This funding round includes $40 million from the International Finance Corporation (IFC), with contributions from Development Partners International (DPI) and Lorax Capital Partners, and funds managed by Apis Partners LLP, Lunate, and GB Corp.
The round follows previous raises of $400 million in January 2023 and $120 million in September 2021.
Founded in 2018, MNT-Halan currently serves more than 7 million customers.
It offers a wide array of services including business and consumer loans, pre-paid cards, e-wallets, e-commerce, gold, and money market fund investments, with plans for further expansion.
MNT-Halan has disbursed over $4.4 billion in loans since inception.
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