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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

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