MNT-Halan Acquires Turkish Tam Finans

Egypt’s unicorn fintech MNT-Halan enters Turkey by acquiring commercial finance company Tam Finans. The acquisition comes at the back of a recent fundraise of USD 157 M by MNT-Halan.

Reportedly, Tam Finans holds a loan book of USD 300 M, and MNT acquired its stakes from regional PE firm Actera and the European Bank for Reconstruction and Development (EBRD). The terms of the transaction were not disclosed. 

Prior to the recent funding round, MNT-Halan raised  USD 400 M in January 2023 and USD 120 M in September 2021. It also recently expanded to Pakistan. The fintech’s proprietary solution connects customers, vendors, and micro-enterprises, offering services like ride-hailing and logistics.