MNT Tech Holding for Financial Investments, the parent company of Egyptian fintech unicorn MNT-Halan, has submitted a formal listing request to the Egyptian Exchange (EGX) for its shares to be admitted to the main market, according to a bourse disclosure published on Tuesday.
The filing, received on 8 September 2026, comes under Article 20 of the exchange’s listing rules. The company has applied to list its entire issued capital of EGP 160 million, divided into 1.6 billion shares with a par value of EGP 0.10 each. The EGX said it would publish the announcement for five working days while listing documents are finalised and submitted to the listing committee for review.
Approval remains subject to the committee’s assessment and the fulfilment of all regulatory requirements. Should it proceed, the listing would rank among the largest technology-related flotations on the Egyptian bourse and provide a public-market exit for early investors in the country’s most valuable privately held fintech group.
From ride-hailing to digital lending powerhouse
Founded in 2018 as a two- and three-wheeler ride-hailing app, MNT-Halan has transformed into a comprehensive digital ecosystem encompassing consumer finance, micro-enterprise loans, payments, savings, investments, e‑commerce and logistics. It is now Egypt’s largest non-bank lender to unbanked and underbanked individuals, having disbursed more than $15.5 billion in loans since inception and serving over 8 million customers globally.
The company reached unicorn status in 2023 after securing a $400 million equity and debt financing round at a $1 billion valuation. Since then it has expanded into Türkiye and Pakistan, and launched operations in the United Arab Emirates in 2024, with further plans to enter other Gulf markets.
In June 2026, MNT-Halan announced that its valuation had been raised to $1.4 billion following a new investment led by Al Ahly Capital, the private equity arm of the National Bank of Egypt (NBE), the country’s largest bank by assets. The transaction, the first closing of an ongoing funding round, marked the first time a commercial bank has taken an equity stake in the company, according to founder and chairman Mounir Nakhla.
“I am delighted to welcome Al Ahly Capital to the company’s shareholders,” Nakhla said in a statement at the time. “This is the first time a national banking institution has become an equity partner, making this a very important milestone in our journey.”
NBE holds a 38.3 per cent market share of Egyptian banking assets, 43.1 per cent of total loans and 38 per cent of customer deposits, serving about 20.4 million clients through 637 branches.
Karim Saadé, chief executive of Al Ahly Capital, said the investment reflected confidence in MNT-Halan’s regional growth prospects and the efficiency of its management team. “The company has succeeded in building an integrated and diversified ecosystem that serves millions of customers and contributes to bridging significant gaps in financial inclusion,” he said.
The size of the investment was not disclosed. MNT-Halan said most of the proceeds would be directed toward expanding its domestic operations while also supporting its regional strategy.
MNT-Halan’s lending model is capital-intensive and relies on a steady inflow of funding to sustain loan-book growth. The company has increasingly turned to securitisation — bundling existing loan receivables and selling them to investors as yield-bearing bonds — as its primary funding mechanism.
In April 2026, Hala Consumer Finance, the group’s consumer lending arm, completed a EGP 2.214 billion ($41.3 million) securitisation issuance, the fifth tranche under Capital Securitisation’s seventh programme, which targets a total value of about EGP 11.5 billion ($214.8 million). That followed a larger EGP 3.4 billion ($71.4 million) offering in October 2025. Both deals fall under a three-year securitisation programme approved by Egypt’s Financial Regulatory Authority.
This financing strategy was central to MNT-Halan’s unicorn round in 2023, which comprised $200 million in equity alongside $140 million in debt raised through two separate securitisations.
The approach allows fintechs to secure large, repeatable tranches of capital independently of venture capital cycles — a notable operational advantage in a globally constrained VC climate. In Egypt’s inflationary environment, where consumer demand for credit rises to meet higher living costs, securitisation provides a fast-moving pipeline of liquidity.
Other local fintechs have adopted similar structures. valU, a buy-now-pay-later platform, has raised EGP 12.3 billion ($246 million) through 15 securitisation issuances since 2021.
Recent tech listings set the stage
The listing filing comes against a backdrop of several high-profile technology flotations on the Egyptian Exchange over the past two years, signalling growing investor appetite for digital assets and a maturing local capital market.
In June 2025, Valu (valU) , the buy-now-pay-later platform, achieved a landmark listing through an unconventional mechanism: its parent company, EFG Holding, distributed 20.488 per cent of Valu’s shares as an in‑kind dividend to its own shareholders, rather than conducting a traditional initial public offering. On its debut, Valu’s share price surged more than 850 per cent, from EGP 0.78 to EGP 7.40, and by July 2025 its market capitalisation had exceeded EGP 17 billion ($345 million). The same day as listing, Amazon acquired a 3.95 per cent stake in the company. Valu’s success has since been cited as a template for other privately held tech groups considering a public exit.
In December 2025, Catalyst Partners Middle East (CPME) became the first special-purpose acquisition company (SPAC) to list on the EGX, with its shares rising 20 per cent on the first day of trading. The SPAC structure, while still novel in Egypt, offers an alternative route to public markets for growth-stage companies.
Earlier, in 2021, eFinance — the country’s digital payments and financial infrastructure provider — raised more than $370 million in its IPO, and its market capitalisation has since exceeded EGP 80 billion ($1.5B), making it one of the top ten companies on the exchange. Its shares are also included in the MSCI Small Cap Index.
The government has also been a driving force behind the listing momentum, with plans to temporarily float up to 20 state‑owned enterprises by April 2026 as part of a broader privatisation and market‑deepening programme. The EGX has actively courted new issuers, and the main index has risen more than 23 per cent this year, with financial and digital services stocks among the top performers.
Beyond public listings, private fintech funding has remained robust. In June, Blnk secured over $37 million in equity and debt funding in June, while Money Fellows raised $13 million in a strategic round last year.
Egyptian regulators have continued to support digital transformation and broader access to financial services through technology‑driven platforms. The non‑banking financial services sector has seen increasing backing from regulatory bodies as part of efforts to accelerate digital inclusion.
For MNT-Halan, a successful main‑market listing would represent a significant test of investor appetite for high‑growth fintech assets in the region and could pave the way for other privately held technology companies to follow suit. Whether its shares will replicate the momentum seen in recent listings will depend on final regulatory approval, market conditions and the company’s ability to sustain its rapid expansion while managing the credit risks inherent in its lending portfolio.