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Egyptian fintech giant MNT-Halan Raises $157.5 Million to Expand Operations
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Egyptian fintech giant MNT-Halan, the country’s only private unicorn, has raised another $157.5 million in a new funding round. MNT-Halan, The microfinance lending and payment company runs a hybrid business model. It targets customers lacking access to credit and financial services, and serves as a distribution medium for merchants selling fast-moving consumer goods (FMCGs). The company acquired Advans Group in Pakistan, instantly topping its user base by 62,000, and obtaining a microfinance bank licence to continue operating in Pakistan. MNT-Halan’s expansion philosophy is simple: To expand into populated, underserved areas that are heavily cash-reliant. With this new funding, MNT-Halan is setting its sights beyond Egypt. Nakhla highlighted plans to expand regionally through strategic acquisitions.
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