MNT-Halan works to provide seamless financial services to unbanked and underbanked customers in Egypt and surrounding areas. The digital ecosystem includes business loans, consumer finance, payments, and e-commerce, all powered by proprietary technology, Neuron. The company has 1.3 million monthly active users and serves more than 5 million customers in Egypt, with more than 2 million borrowers and 3.5 million financial clients.
Chimera Abu Dhabi invested more than $200 million in MNT-Halan for more than 20% equity, while the fintech company also raised $140 million through two securitized bond issuances and is in the advanced stages of closing an additional $60 million from international investors. The two securitizations, worth $140 million, were made through Tasaheel Microfinance Company and Halan Consumer Finance, and were oversubscribed with the participation of regional and local financial institutions such as Commercial International Bank, Abu Dhabi Commercial Bank, National Bank of Egypt, and Al Ahli. Bank of Kuwait.
The additional funding will support MNT-Halan’s growth and assist in its mission to offer cutting-edge financial products and services, locally and internationally, to empower the underprivileged. The company has the capacity to secure up to $250 million in securitization programs, which adds to its loan book.
Investments in the Middle East and Africa (MENA) region have increased in recent years, with the fintech sector attracting investors. The growing number of tech-savvy young consumers in the region has huge growth potential, making it a hotbed for venture capital and private equity investment. This trend is further strengthened by MNT-Halan’s new funding round, which attracted an investment of $400 million.