Egypt’s MNT-Halan Raises $157.5 Million to Scale Regional Operations

Egypt’s first startup unicorn MNT-Halan has raised $157.5 million in new funding, as the company continues to scale-up its regional operation. Over the past 24 months, the financial services provider has raised a total of $677.5 million in funding.

“While Egypt remains our primary market, we are committed to revolutionising access to financial services through technology beyond Egypt’s borders,” Mounir Nakhla, Founder and CEO of MNT-Halan, tells StartupScene. “Our M&A strategy capitalises on our technology and industry expertise while leveraging our partners’ local knowledge, management capabilities, and licences.”

Since launching in 2018, MNT-Halan has gained unicorn status through its rapid growth, offering financial services including loans, prepaid cards, e-wallets, e-commerce and money market fund investments to over 2.2 million quarterly active users. As of July 2024, the company has disbursed more than $4.4 billion in loans.