MNT-Halan Raises USD 71.4 M via 7th Securitisation To Fuel Lending Growth

MNT-Halan, Egypt’s fintech unicorn founded in 2018, has raised EGP 3.4 B (USD 71.4 M) through its seventh securitised bond issuance, reinforcing its reliance on debt markets to fund rapid lending growth. The issuance, managed by Commercial International Bank (CIB) and CI Capital, is part of a broader three-year, EGP 8 B (USD 168 M) securitisation program approved by Egypt’s Financial Regulatory Authority.

The bonds were structured across five tranches with maturities ranging from six to 36 months and credit ratings from MERIS, providing flexibility for investors. Securitisation—converting its loan receivables into investable bonds—has become the company’s primary funding engine, enabling it to recycle capital into fresh loans without equity dilution continuously. The company had raised USD 49 M in May, also via similar public debt market instruments.

Founded as a ride-hailing app before pivoting into fintech, MNT-Halan now operates Egypt’s largest lender to the unbanked through its super app. The latest deal signals strong investor confidence, but also underscores the company’s dependence on a functioning credit market.