MNT Halan Raises $130 Mn Securitisation Bond Issuances
Egypt’s Fintech Unicorn so far Banked Over US$400 million This Year
MNT-Halan, Egypt’s leading and fastest-growing fintech ecosystem, announced today that Chimera Abu Dhabi has invested more than $200 million in equity in exchange for over 20% of the company. In addition, the company is in advanced stages with leading international investors to raise $60 million of primary capital.
Following the completion of these investments, MNT-Halan’s valuation will exceed $1 billion.
This funding follows a $120 million investment in Q3 2021 by other major global and regional growth investors, including Development Partners International (DPI), Apis Growth Fund II, and Lorax Capital Partners.
MNT-Halan’s digital ecosystem includes business loans, consumer finance, payments, and e-commerce, all of which are backed by Neuron, the company’s proprietary technology.
The company also announced two securitizations totaling $140 million through subsidiaries Tasaheel Microfinance Company (Tasaheel) and Halan Consumer Finance (Halan) with Commercial International Bank (CIB), Egypt’s largest private sector bank. Tasaheel has securitized $100 million of its loan book in the second issuance of its securitization program.
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MNT-Halan was founded in 2018, the digital ecosystem includes small and micro business lending, payments, consumer finance, and e-commerce. With 1.3 million monthly active users, MNT-Halan serves more than 5 million customers in Egypt, of which 3.5 million are financial clients and over 2 million are borrowers.
Established in 2007, Chimera is an Abu Dhabi-based private investment firm managing a diversified portfolio of listed and unlisted equities on local and regional markets.