MNT-Halan, an Egyptian consumer and micro-lending fintech, has raised $157.5 million in a new funding round led by the International Finance Corporation, which contributed $40 million in equity. The capital is earmarked for geographic expansion into markets beyond Egypt, the company announced on 20 July 2024.
The round drew a roster of institutional investors alongside the IFC. Development Partners International, Lorax Capital, Apis Partners, Lunate, and GB Corp all participated. The company did not name its target markets in the announcement, saying only that it was committed to expanding access to financial services beyond Egypt's borders, including through acquisitions.
FUNDING HISTORY
The July 2024 close brings MNT-Halan's total funding to more than $670 million, following a $400 million raise in January 2023 and a $120 million round concluded in September 2021.
MNT-Halan operates across consumer loans, buy-now-pay-later products, and small-business financing, using data generated by its payments and merchant network to underwrite credit decisions for customers who would not qualify under traditional bank scoring methods.