MNT-Halan, Egyptian leading fintech ecosystem, announced today that it has closed a round of investment with circa $120 million from major global and regional growth investors.
Story Behind MNT-Halan
MNT-Halan was created by merger/acquisition between two firms: MNT and Halan Inc. Describing itself as the largest and fastest-growing non-bank lender, the firm aims at digitizing traditional banking and cash-based markets through tech and data-driven solutions with an app.
Source:arabhardware.net
The firm, founded by Mounir Nakhla and Ahmed Mohsen, has obtained licenses from the Egyptian Financial Regulatory Authority to operate the first independent electronic wallet.
Investors backing the Egypt-based microfinance lending and payments company include Apis Growth Fund II, Development Partners International (DPI), Lorax Capital Partners, as well as venture capital backing from Middle East Venture Partners, Endeavor Catalyst, and DisruptTech.
These investors joined previous local ones like GB Capital, DPI, Algebra Ventures, Wamda, Nowaisi Capital, Unidelta, Egypt Ventures, Battery Road Digital Holdings, and Shaka VC.
