Egyptian fintech startup, MNT-Halan, has secured undisclosed equity funding in a deal that values the company at US$1.4 billion.
Founded in 2018, MNT-Halan was created to digitally bank the unbanked and substitute cash with electronic solutions. The MNT-Halan digital ecosystem includes small and micro business lending, payments, consumer finance, and e-commerce. Since inception, MNT-Halan has disbursed over US$15.5 billion in loans and served more than 8 million customers globally. Serving over 2.3 million active customers quarterly globally across its ecosystem, MNT-Halan’s app alone has reached 10 million downloads.
In the meantime, the company has also become a unicorn, raising several significant funding rounds, most recently a EGP3.4 billion (US$71.4 million) securitised bond issuance – its seventh – in October of last year. It has now secured equity investment in a round that values the company at US$1.4 billion.
The round was led by Al Ahly Capital, the investment subsidiary of the National Bank of Egypt (NBE), following the completion of all necessary approvals from the relevant regulatory authorities. MNT-Halan will mostly deploy the transaction proceeds to expand its operations in Egypt, while also supporting its regional expansion ambitions. Over the years, the company has established itself as one of the largest fintechs operating in Egypt and Turkey. It also owns a specialised bank focused on supporting micro and small businesses in Pakistan, and has been operating in the UAE since 2024, with plans to continue its expansion into new markets across the Gulf region.
“I am extremely happy to have Al Ahly Capital, the investment subsidiary of Egypt’s largest bank, as a shareholder in the company. While we have partnered with more than 30 Egyptian banks and financial institutions, this is the first time a commercial bank has become an equity partner in our journey, making this a particularly important milestone for us. Together, we will redefine access to financial services for small and micro businesses, as well as people living in remote towns and villages across Egypt who have historically been underserved,” Mounir Nakhla, founder and chairman of MNT-Halan, said.
“Over the years, we have helped more than 4 million individuals and business owners grow their operations and meet their families’ financial needs, enabled them to buy their first smartphones and step into the digital world, and provided financing for a wide range of vehicles for both commercial and personal use. This investment is a powerful vote of confidence and a testament to the strong ties between the banking sector and the NBFI space.”
Karim Saada, CEO and managing director of Al Ahly Capital, said he was pleased to conclude this investment, which reflected the firm’s conviction in the MNT Halan’s strong regional growth potential, the quality of its management team, and its proven ability to execute on an ambitious vision. “Over the years, MNT-Halan has established itself as one of the region’s leading fintech and non-bank financial services platforms, successfully building a diversified ecosystem that serves millions of customers and addresses critical gaps in financial inclusion,” he said.
“Al Ahly Capital has long believed that non-bank financial services play a vital role in supporting underbanked and underserved segments of the economy and are a key driver of sustainable economic growth in emerging markets. As such, the sector remains a core area of focus within our investment strategy. This investment is fully aligned with our objective of partnering with market-leading businesses that combine strong fundamentals, scalable business models, and meaningful social and economic impact.”