Egyptian fintech unicorn MNT-Halan has successfully completed three securitisation issuances with a combined value exceeding EGP4 billion (US$76.5 million) for its two subsidiaries, Halan Consumer Finance and Tasaheel for Finance.
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, including a EGP3.4 billion (US$71.4 million) securitised bond issuance in October of last year and some undisclosed equity funding in June, in a deal that values the company at US$1.4 billion.
The latest transactions include an issuance of EGP528.5 million (US$10.1 million) for Halan Consumer Finance, and two issuances for Tasaheel for Finance, valued at EGP1.2 billion (US$23 million) and EGP2.28 billion (US$43.6 million). These issuances further strengthen MNT-Halan’s access to diversified funding sources and support the continued expansion of its financing activities across Egypt.