Egypt-based fintech ecosystem MNT-Halan has received USD 400 million in funding, of which USD 200 million in equity came from Chimera Abu Dhabi in exchange for 20% of the company. In addition to this funding, the company is in advanced stages with leading international investors to raise USD 60 million of primary capital.

Following the completion of these investments, MNT-Halan’s valuation will exceed USD 1 billion. These investments demonstrate confidence in MNT-Halan’s value proposition and technology and will also enable international growth. This funding follows a USD 120 million investment in Q3 2021 by other global and regional growth investors, including Development Partners International (DPI), Apis Growth Fund II, and Lorax Capital Partners.

Catering for the underserved Committed to bringing seamless financial services to the unbanked and underbanked customers in Egypt and the surrounding region, MNT-Halan’s digital ecosystem includes business loans, consumer finance, payments, and ecommerce, all of which are backed by Neuron, the company’s proprietary technology. Officials from MNT-Halan said that having the backing of Chimera Abu Dhabi is of significant support to the execution of their strategy. They are excited for what lies ahead as they continue to grow both organically and inorganically by offering cutting edge financial products and services locally and internationally to support the underserved.

More funds through creating securities The company also announced two securitisations totalling USD 140 million through subsidiaries Tasaheel Microfinance Company (Tasaheel) and Halan Consumer Finance (Halan) with Commercial International Bank (CIB), one of Egypt’s largest private sector bank. Tasaheel has securitised USD 100 million of its loan book in the second issuance of its securitisation programme. Both securitisations are divided into four tranches, each of which have been rated Prime 1 for the first three and A for the fourth by MERIS (Middle East Rating & Investor Service).

In addition to CIB, participating regional and local financial institutions included Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait, Al Baraka Bank, Arab Africa International Bank, Agricultural Bank of Egypt, ABC Bank, NI Capital, National Bank of Egypt, and the Housing and Development Bank. What does MNT-Halan do? MNT-Halan is a fintech ecosystem in Egypt and one of the largest and fastest growing lenders to the unbanked and underbanked. Founded in 2018, with roots dating back to 2010, the company is headquartered in Cairo, Egypt.

MNT-Halan was created to digitally bank the unbanked and substitute cash with electronic solutions. The MNT-Halan digital ecosystem includes small and micro business lending, payments, consumer finance, and ecommerce. .