Egypt’s fintech MNT-Halan attracts $400mln in past 12 months

Egypt’s leading and fastest growing fintech ecosystem MNT-Halan has raised up to $400 million in equity and debt financing from local and global investors, according to its statement on Wednesday.

Chimera Abu Dhabi has invested more than $200 million in equity in exchange for over 20 percent of the company, as MNT-Halan is in advanced stages of raising $60 million in additional capital in the coming weeks.

The company also raised two securitizations totalling $140 million through Tasaheel Microfinance Company (Tasaheel) and Halan Consumer Finance (Halan) with Commercial International Bank (CIB), Egypt’s largest private sector bank.

MNT-Halan plans to expand internationally after solid growth in Egypt and progress on the swap agreement between super app Halan and Netherlands-based microlending platform MNT Investments.

Mounir Nakhla, MNT-Halan’s CEO said “the timing of the transaction is a testament to our ability to significantly increase our revenues and open new revenue streams while growing our bottom line, despite the macro-economic situation.”