DPI, Apis, IFC, others in $157.5m Egypt deal
Egyptian fintech company MNT-Halan has raised a total of $157.5 million.
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Egyptian fintech company MNT-Halan has raised a total of $157.5 million – $40 million from the International Finance Corporation (IFC) and the remainder from Development Partners International (DPI), Lorax Capital Partners, Apis Partners, Lunate, and GB Corp. The current round follows raises of $400 million in January 2023 and $120 million in September 2021.
MNT-Halan’s founder and CEO, Mounir Nakhla, said: “While Egypt remains our primary market, we are committed to revolutionising access to financial services through technology beyond Egypt’s borders. Our M&A strategy capitalises on our technology and industry expertise while leveraging our partners’ local knowledge, management capabilities, and licenses. We are happy to have the IFC on board and to see the continued confidence from our current shareholders through their participation in this round.”
Since its inception, MNT-Halan has grown over 20x to serve more than 7 million customers. It has continued to add new features and services to its customer centric digital ecosystem. The Halan app now includes all types of business and consumer loans, pre-paid cards, e-wallets, e-commerce, gold, and money market fund investments, with more services launching soon.
Maatouk Bassiouny & Hennawy and Van Campen Liem served as legal advisers to MNT-Halan for the transaction, and Hogan Lovells, Freshfields, and Gibson Dunn served as legal advisers to the subscribers. Arqaam Capital acted as financial advisers to GB Corp.
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