Egyptian fintech MNT-Halan has secured significant investment to expand beyond Egypt, marked by a strategic acquisition in Turkey. This development underscores MNT-Halan’s ambitions to broaden its footprint in the digital financial services landscape.
- MNT-Halan raised $157.5 million in fresh funding, with significant contributions from investors such as the International Finance Corporation (IFC), Development Partners International, Lorax Capital Partners, and others. This capital injection follows previous substantial raises, including $400 million in January 2023.
- In addition to the funding, MNT-Halan has acquired a fintech company in Turkey. This acquisition is part of MNT-Halan's strategy to leverage its technological expertise and expand its services to new markets, enhancing its digital ecosystem to include lending, payments, and e-commerce solutions.
- Founded in 2018, MNT-Halan aims to revolutionize financial services for the unbanked and underserved. The company has already disbursed over $4.4 billion in loans and served millions of customers in Egypt. The latest funding and acquisition are set to accelerate its international expansion and enhance its service offerings.
