Arab Finance: Al Ahly Pharos Investment Banking concluded its role as financial advisor to MNT-Halan on its latest capital-raising round, which raised the fintech firm's valuation to $1.4 billion, according to a press release.
The transaction strengthened MNT-Halan’s position as a leading digital financial services in the MENA region.
This strategic investment by Al Ahly Capital Holding reflects a shared commitment to promoting financial inclusion and digitizing the lending and payment infrastructure across the region.
Ahmed Heider, CEO of Al Ahly Pharos Investment Banking, commented: “Achieving a $1.4 billion valuation in the current market environment demonstrates investor confidence in their robust business model and the vision of their management team. At Al Ahly Pharos, we remain dedicated to supporting such regional champions as they scale and redefine industry standards.”
Mounir Nakhla, Founder and CEO of MNT-Halan, said: “This milestone reflects MNT-Halan’s unwavering commitment to digitizing financial services for the unbanked and underbanked, and we are excited to embark on this next phase of growth with our investors.”
MNT-Halan previously noted that it will direct most of the proceeds toward expanding its operations in Egypt while also supporting its plans to grow across regional markets.
