Egypt’s Fintech Startup MNT-Halan Valued at $1B After $400M Investment

MNT-Halan, an Egypt-based fintech startup, has raised an estimated $400 million in equity and debt funding from local and global investors.

The round includes funding from Chimera Abu Dhabi, investing more than $200 million in equity in exchange for 20% of the company, as well $140 million through two securitized bond issuances secured within the past year. Additionally, the company is in advanced stages with leading international investors to raise $60 million of primary capital.

Following the completion of these investments, MNT-Halan’s valuation will exceed $1 billion.

According to the startup, the investments demonstrate continued confidence in MNT-Halan’s value proposition, management team, and technology solutions.

“The timing of the transaction is also a testament to our ability to significantly increase our revenues and open new revenue streams while growing our bottom line, despite the macro-economic situation,” Mounir Nakhla, Founder and CEO of MNT-Halan, tells StartupScene. “I am excited for what lies ahead as we continue to grow both organically and inorganically by offering cutting edge financial products and services locally and internationally to empower the underserved.”

The new investments will support MNT-Halan’s plans for international expansion. “The plan for the raise is to fuel the growth of MNT-Halan in the lending business and to definitely start our international expansion,” Andre Valavanis, VP of Investments at MNT-Halan told Startup Scene. “We’re looking to expand to Africa and selected countries in Asia in 2023.”

Last year, MNT-Halan raised $120 million from private equity firms.

In 2021, MNT entered into a swap agreement with super app Halan to accelerate digital innovations in the areas of payment and lending, and buy now pay later (BNPL) across the MENA region.