MNT-Halan, Egypt’s leading and fastest-growing fintech ecosystem, has recently announced a major investment of over $200 million by Chimera Abu Dhabi in exchange for 20% of the company’s equity. In addition, the company is in the advanced stages of raising $60 million in primary capital from leading international investors, propelling its valuation to exceed $1 billion.

Committed to providing seamless financial services to the unbanked and underbanked communities in Egypt and the surrounding regions, MNT-Halan’s digital ecosystem offers a range of financial products and services, including business loans, consumer finance, payments, and e-commerce, all backed by its proprietary technology, Neuron.

Seif Fikry, CEO of Chimera Abu Dhabi, expressed his excitement to be a part of Egypt’s greatest fintech success story, saying, “MNT-Halan’s upward trajectory and momentum reflect the management team’s realization of its extraordinary vision to transform a high-touch business by seamlessly infusing an unparalleled proprietary tech platform while increasing product depth for its target customer segment.”

Mounir Nakhla, founder and CEO of MNT-Halan, added that the investment from Chimera Abu Dhabi brings a unique and dedicated understanding of their business, and will significantly support the execution of their strategy. “I am excited for what lies ahead as we continue to grow both organically and inorganically by offering cutting-edge financial products and services locally and internationally to empower the underserved,” he said.

The company also announced two securitizations totaling $140 million through its subsidiaries, Tasaheel Microfinance Company (Tasaheel) and Halan Consumer Finance (Halan). These offerings reflect the high quality, diversity, and granularity of the combined securitized loan books, consisting of 246,000 contracts and a robust cash payback ability. The proceeds will fuel MNT-Halan’s growing loan book, considering the increasing demand in light of the current inflationary environment.

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Rated Prime 1 for the first three tranches and A for the fourth by MERIS (Middle East Rating & Investor Service), these securitizations were over-subscribed and participated in by regional and local financial institutions, including Commercial International Bank, Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait, Al Baraka Bank, Arab Africa International Bank, Agricultural Bank of Egypt, ABC Bank, NI Capital, National Bank of Egypt, and the Housing and Development Bank.

MNT-Halan is paving the way for a brighter financial future for the underserved communities in Egypt and the surrounding regions. With a strong management team, unparalleled technology, and continued support from leading investors, MNT-Halan is set to revolutionize the financial industry and bring seamless financial services to those who need it the most.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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