MNT-Halan, a Cairlo, Egypt-based non-bank financial institution and fintech, acquired Tam Finans, a commercial finance company in Turkey, from Actera Group, a private equity firm, and the European Bank for Reconstruction and Development (EBRD).
Terms of the transaction were not disclosed.
Combining Tam Finansā credit models, distribution capabilities, and management team with MNT-Halan’s technology, customer-facing app, and financial muscle will help complete MNT-Halan’s product offering.
Led by Founder and CEO Mounir Nakhla, MNT-Halan provides business and consumer loans, pre-paid cards, e-wallets, savings and e-commerce services through the Halan app and nationwide physical presence. Since inception, the firm has disbursed over US $4.5 billion in loans and served more than 7 million customers in Egypt. The app serves over 1.5 million customers quarterly, nearly doubling its user base annually driven by Halanās new services and the Halan Card. MNT-Halan holds micro, consumer, and nano finance licenses from the Egyptian Financial Regulatory Authority and the first independent electronic wallet license from the Central Bank of Egypt to disburse, collect, and transfer money digitally through mobile applications. MNT-Halan owns a licensed Microfinance Bank in Pakistan and has launched its activities in the UAE. The company recently raised US $157.5 million from the IFC (International Finance Corporation) as well as existing shareholders, including DPI (Development Partners International), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp.
Led by Hakan Karamanlı, CEO, Tam Finans is a commercial finance company that has been operating since 2012 and with a factoring license by the Banking Regulation and Supervision Agency. The company has developed a proprietary scoring system to underwrite loans to all businesses from tradesmen to SMEs and large-scale companies while maintaining a high-quality loan book. Tam Finans has disbursed more than US $6 billion since inception and currently disburses more than US $50 million to tens of thousands of customers monthly. It has a loan book exceeding US $300 million.
FinSMEs
29/07/2024