Egyptian fintech MNT-Halan raises $157.5 million to expand market penetration

Egyptian FinTech firm MNT-Halan has raised $157.5 million in funding, including $40 million from the International Finance Corporation (IFC), with the rest coming from Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp.

With the funding secured, MNT-Halan aims to revolutionize access to financial services for individuals and businesses in the country through its digital platform, claiming to serve “millions of people”.

MNT-Halan was founded in 2018 with the aim of providing digital banking services to the unbanked and replacing cash with electronic alternatives.

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The company’s digital ecosystem includes lending to small and micro businesses, payment processing, consumer finance, and e-commerce services.

Mounir Nakhla, founder and CEO of MNT-Halan, emphasized the company’s strategic direction, stating, “While Egypt remains our core market, we are committed to revolutionizing access to financial services through technology beyond Egypt’s borders.

”Our M&A strategy leverages our technology and industry expertise while leveraging the local knowledge, management capabilities and licensing of our partners. We are pleased to have IFC on board and see the continued confidence of our existing shareholders through their participation in this round.”

Egyptian fintech firm MNT-Halan raises $157.5 million to expand market penetration first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.