Deal Street

African Startup Funding Tracker

$762,170,250+

*Data updated daily at 18:00 EAT

Egyptian Fintech MNT-Halan Raises USD 400 M Equity, Debt Funding
Egyptian Fintech MNT-Halan Raises USD 400 M Equity, Debt Funding

Egyptian fintech company MNT-Halan has secured USD 200 M in equity funding from Chimera Abu Dhabi, plus a further USD 140 M in debt. The investment comes in exchange for over 20% of the company, with MNT-Halan also in advanced stages of discussions with leading international investors to raise a further USD 60 M of primary capital.  Following the completion of these investments, MNT-Halan’s valuation is set to exceed USD 1 B. 

The fintech also announced two securitizations totaling USD 140 M through subsidiaries Tasaheel Microfinance Company (Tasaheel) and Halan Consumer Finance (Halan) with Commercial International Bank (CIB), one of Egypt’s largest private sector banks. Tasaheel has securitized USD 100 M of its loan book in the second issuance of its securitisation program.

Through its consumer-facing app, merchant app, distributed lending, payment processing software, and payment solutions, the startup’s proprietary fintech ecosystem connects customers, vendors, and micro-enterprises and offers services like ride-hailing and logistics.