Egypt based Fintech and e-commerce ecosystem company MNT-HALAN has raised up to $400 million in ful equity and debt since  it continues to provide underbanked and unbanked consumers throughout the nation of North Africa, it has received equity and debt funding from regional and international investors, it announced in a statement on Wednesday. 

In exchange for more than 20% of the business, MNT-Halan secured a $200 million worth from Chimera Abu Dhabi. The company is also in “advanced” discussions with foreign investors to obtain an additional $60 million in basic capital.These investments will culminate in a valuation of MNT-Halan that is greater than $1 billion.

Additionally, the business disclosed two securitizations for a combined $140 million with Commercial Financial Institution (CIB), the biggest private sector bank in Egypt, through its subsidiaries Tasaheel and Halan.

Following an investment of 120 billion dollars which was made in September 2021, this most recent financial infusion was made by investors including Developmental Companies and  Apis Fund Manager LLP, and Lorax Capital Partners.

The MNT-Halan digital ecosystem consists of business loans, consumer lending, payments, and online shopping, all of which are supported by Neuron, the company’s proprietary technology. MNT-Halan is dedicated to bringing streamlined wealth management to the underbanked and unbanked customer base at egypt and the neighbouring region.

Founded in 2019, MNT-Halan , Egypt based company enables startups to electronically bank the unbanked and replace cash with other digital payment methods .Lending to small and micro businesses, remittances, lines of credit, and e-commerce are all part of the MNT-Halan digital ecosystem. MNT-Halan serves more than 5 million consumers in Egypt, of which 3.5 million are financial clients and more than 2 million are borrowers. It has 1.3 million monthly active users. The Financial Regulatory Agency has granted MNT-Halan the micro, SME, consumers, and nano finance licences necessary for it to offer services to both enterprises and people in Egypt. Additionally, it has been granted the first independent integrated payment licence by the Egyptian Central Bank, allowing it to distribute, collect, and transfer money through app stores.

Founded in 2007, Chimera Investments Limited Liability Company, an Abu Dhabi-based private equity firm founded in 2007, manages a diverse portfolio of traded and unlisted stocks on national and international markets. The company looks for scalable enterprises where it may invest its own money while adhering to its core values and investing philosophies. 

Seif Fikry, The Chief Executive Officer commented that:- “We are thrilled to be part of Egypt’s greatest fintech success story. MNT-Halan’s upward trajectory and momentum reflect the management team’s realisation 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, Co-Founder and Chief Executive Officer added saying that:- 

 “As one of the region’s premier and most progressive investors, Chimera Abu Dhabi brings a unique and dedicated understanding of our business. Having the backing of Chimera Abu Dhabi is of significant support to the execution of our strategy. The timing of the transaction is also a testament to our ability to significantly increase our revenues and open new revenue streams while growing our bottom line, despite the macro-economic situation. 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.”

With the latest funds, MNT-Halan’s valuation will exceed $1 billion which will help them spread their  business across the country moreover the Egypt based company will enable the startup firms to enhance the growth in their company.  Each of the two securitizations’ four tranches has received a MERIS rating A for the fourth and Prime 1 for the first two 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 were among the regional and local financial institutions that participated in addition to CIB.