MNT-Halan, Egypt’s leading fintech company and the nation’s first unicorn, has announced the successful closure of a $157.5 million funding round. The round was led by a $40 million investment from the International Finance Corporation (IFC), with significant participation from existing investors Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp.
This latest capital infusion follows a series of substantial funding rounds totaling $520 million over the past two years, solidifying MNT-Halan’s financial strength and paving the way for its ambitious expansion plans across the region.
Mounir Nakhla, founder and CEO of MNT-Halan, commented on the company’s strategic vision: “While Egypt remains our core market, we are determined to extend our mission of democratizing access to financial services through technology beyond our borders. Our M&A strategy leverages our technological prowess and industry knowledge while drawing on our partners’ local insights, managerial expertise, and regulatory licenses. We are pleased to welcome the IFC and appreciate the continued support from our existing shareholders in this round.”
Since its establishment in 2018, MNT-Halan has experienced exponential growth, expanding its customer base by over 20 times to reach more than seven million users. Its flagship digital platform, the Halan app, has evolved into a comprehensive financial ecosystem, offering a diverse range of services including various loan products, pre-paid cards, e-wallets, e-commerce capabilities, gold investments, and money market fund options, with further enhancements in the pipeline.
With over 2.2 million quarterly active users and more than $4.4 billion in disbursed loans, MNT-Halan has emerged as a key player in driving the digital transformation of financial services in Egypt. The company’s latest funding round further solidifies its position as a regional fintech leader, poised to revolutionize financial access for millions of individuals and businesses.