Egypt’s MNT-Halan raises $157.5 million, plots regional expansion

Key Points:

1. Funding Sources:
   • International Finance Corporation (IFC): $40 million
   • Other Investors: Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp.
2. Previous Funding Rounds:
   • January 2023: $400 million
   • September 2021: $120 million
3. Company Overview:
   • Founded: 2018
   • Headquarters: Giza, Egypt
   • Services: Financial services mobile app offering loans, prepaid cards, payments, savings, e-wallets, e-commerce, and investments (gold and money market funds).
4. Current Statistics:
   • Quarterly Active Users: 2.2 million
   • Loans Disbursed: Over $4.4 billion to three million borrowers
   • Total Customers: Seven million in Egypt
5. Licences:
   • Micro, Consumer, and Nano Finance: Egyptian Financial Regulatory Authority
   • Electronic Wallet: Central Bank of Egypt
6. Expansion Plans:
   • Regional Expansion: Focus on international growth, with Pakistan as a key market due to its microfinance bank licence.
   • Growth Strategy: Expansion through mergers and acquisitions (M&As) and partnerships.
7. CEO Statement:
   • Mounir Nakhla: Emphasized the company’s strong positioning for regional expansion and the role of M&As and partnerships in achieving this growth