MNT-Halan, a Cairo, Egypt-based fintech company, raised approx. US$120m in funding.
The investor group includes:
- Apis Growth Fund II, a London based private equity fund managed by Apis Partners LLP;
- African Development Partners III, a London based private equity fund advised by Development Partners International (DPI);
- Lorax Fund II, a private equity fund managed by Lorax Capital Partners, an Egypt-focused investment firm;
- Algebra Ventures,
- DisrupTech,
- Endeavor Catalyst,
- Egypt Ventures,
- MEVP,
- Wamda,
- Nowaisii Capital,
- Shaka Capital,
- Uber’s founding CTO Oscar Salazar,
- Unidelta, and
- Battery Road Digital Holdings.
Led by CEO Mounir Nakhla, MNT-Halan is a lender for unbanked people. The company has developed a scalable proprietary fintech ecosystem, connecting customers, vendors and micro-enterprises through a consumer facing app, a merchant app, Halan Neuron (distributed lending and payment processing software) and payment solutions (wallets and cards).
With c.1 million monthly active users, the company serves more than 4 million customers in Egypt, of which 3.1 million are financial clients and 1.8 million are borrowers.
MNT-Halan has obtained the micro, consumer and nano finance licenses from the Financial Regulatory Authority enabling it to provide services to both businesses and consumers across Egypt. It has also obtained the first independent electronic wallet license from the Central Bank of Egypt to disburse, collect and transfer money digitally through mobile applications.
FinSMEs
08/09/2021