Egyptian fintech unicorn MNT-Halan is prepping regional expansion after securing around $157.5 million in funding.
The International Finance Corporation has pumped $40 million into MNT-Halan, with Development Partners International, Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp participating on the round.
MNT-Halan is building a fintech ecosystem, providing Egypt's underbanked with business and consumer loans, pre-paid cards, e-wallets, e-commerce, gold, and money market fund investments, with more services launching soon.
Since launch in 2018 using its own proprietary technology, the startup has grown over 20x to serve more than 7 million customers.
Mounir Nakhla, MNT-Halan, CEO, says: "While Egypt remains our primary market, we are committed to revolutionizing access to financial services through technology beyond Egypt’s borders. Our M&A strategy capitalizes on our technology and industry expertise while leveraging our partners’ local knowledge, management capabilities, and licenses."