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Egyptian financial services provider MNT-Halan valued at $1B in $400M funding

Egyptian financial services provider MNT-Halan valued at $1B in $400M funding

#financial services
#investments
#funding
Egyptian fintech and e-commerce ecosystem MNT-Halan has raised up to $400 million in equity and debt financing from local and global investors as it continues to serve underbanked and unbanked customers in the North African country.

MNT-Halan, an Egyptian fintech and e-commerce ecosystem, raised $400 million in equity and debt financing, including $260 million in equity financing and $140 million in two securitized bond issuances. The investment was led by Chimera Investments, which invested $200 million in exchange for 20% of the company, with the remaining financing expected to come from existing shareholders. The CEO, Mounir Nakhla, stated that the investments "demonstrate continued confidence in its value proposition, management team, and superior technology." The company's digital ecosystem serves more than 5 million customers in Egypt and provides business loans, consumer finance, payments, BNPL, and e-commerce offerings. The company plans to expand internationally and launch a debit card for its customers by the end of March.


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