Egypt’s MNT-Halan Expands Into Türkiye With Acquisition of Tam Finans
MNT-Halan’s acquisition of Turkish fintech company, Tam Finans, marks the Egyptian start-up unicorn’s expansion into a key new regional market.
Egyptian fintech company MNT-Halan has bought Tam Finans, a leading Turkish commercial finance company, for an undisclosed sum. Tam Finan, which has a loan book of $300 million, was previously owned by Actera Group, a prominent Turkish private equity firm, and the European Bank for Reconstruction and Development (EBRD).
The acquisition paves the way for MNT-Halan’s expansion into Türkiye, one of the largest markets in the region, with strong growth projections in the financial services sector.
“Combining Tam Finans’ credit models, distribution capabilities, and management team with MNT-Halan's technology, customer-facing app, and financial muscle will help complete the product offering and give greater confidence to all its stakeholders,” Mounir Nakhla,MNT-Halan’s Founder and CEO, tells StartupScene. “Türkiye and Egypt’s histories and cultures have been intertwined for hundreds of years and their current economic outlook points to a bright future that we are ready to capitalize on.”
In recent months, MNT-Halan raised $157.5 million in new funding and expanded into Pakistan, another lucrative growth market.
