Egypt’s fintech industry has been on the rise over the past few years, and at the forefront of that charge is Mounir Nakhla, the founder and CEO of MNT-Halan, the largest growing lender to the unbanked and underbanked.
With his latest venture, MNT-Halan, which he co-founded in 2017 with Ahmed Mohsen, Nakhla has become the mastermind behind Egypt’s first billion-dollar private tech firm.
The startup, offers multiple financial solutions, including small and micro-business lending, consumer finance, payments, and e-commerce.
Under Nakhla’s leadership, MNT-Halan’s user base has surged to more than 1.3 million monthly active users, serving more than five million customers, with 3.5 million financial clients and over two million borrowers benefitting from its innovative solutions.
Who is Mounir Nakhla?
Nakhla is a serial entrepreneur who has founded multiple businesses over the past decade, his entrepreneurial journey started 12 years ago when he founded Mashroey, an asset-based microfinance company that focused on selling two- and three-wheelers, which later became a full-fledged consumer finance company.
In 2014, he founded Tasaheel, Egypt’s largest microfinance company, followed by Halan in 2017, and a payment company in 2019, before putting them all under one holding, MNT-Halan, in 2021.
Nakhla’s professional journey commenced at Environmental Quality International, where he progressed through the ranks to eventually assume the role of manager partner in 2008.
He spearheaded the growth of the organization into Egypt’s leading microfinance consultancy, setting new heights in the industry.
He is an alumnus of the prestigious London School of Economics, from where he obtained a masters of science in environment and development. He also holds a bachelor of science in international business studies from the European Business School.
As a key player in the African fintech space, Nakhla has a strong vision to enhance financial inclusion and women’s economic empowerment through microfinance.
Last year, he led MNT-Halan into a partnership with DEG and UN Women to support these causes, cementing his commitment to making a positive impact on society.
MNT-Halan achieves $1-billion valuation following successful $400 million fundraising round
MNT-Halan’s growth trajectory shows no signs of slowing down, as the company recently raised up to $400 million in equity and debt financing from both local and global investors, boosting its valuation to around $1 billion.
The funding round includes $260 million in equity financing and $140 million in two securitized bond issuances secured in the past year.
The largest share of equity financing, about $200 million, came from Abu Dhabi-based Chimera Investments, which acquired a 20-percent stake in the startup, marking its largest investment to date.
Despite this success, Nakhla remains driven and ambitious, viewing this as merely the beginning. His goals include expanding the company’s reach into new markets in Africa.
In line with this, the company is already in the advanced stages of raising an additional $60 million in capital. Nakhla’s mission to improve financial inclusion and empower communities across Africa remains at the forefront of the company’s strategy.
