Table of Contents
Key Points
- MNT-Halan raises EGP 2.5 billion ($49.4 million) in corporate bonds to fuel growth in its expanding loan book across Egypt and beyond.
- Expanding into Pakistan, MNT-Halan aims to open 100 branches and extend digital lending services, focusing on financial inclusion for the unbanked.
- MNT-Halan leverages AI-driven technology and acquisitions like Tam Finans to strengthen its presence in emerging markets and enhance its loan portfolio.
MNT-Halan, Egypt’s first fintech unicorn, led by tech entrepreneur Mounir Nakhla, has successfully raised EGP 2.5 billion ($49.4 million) in corporate bonds to fuel further growth in its Egyptian loan book.
MNT-Halan expands lending beyond Egypt, Pakistan
According to a recent press release, the bonds were sold to institutional lenders. This comes as MNT-Halan, valued at over $1 billion, continues expanding beyond Egypt. The company has disbursed more than $11 billion in loans both domestically and internationally, further cementing its role as a major player in the fintech sector.
This latest move follows an earlier announcement this year, where MNT-Halan revealed a $10 million investment to extend its services into Pakistan. The company plans to open 100 new branches and expand its digital lending platform by the end of 2025, with a focus on improving financial inclusion for Pakistan’s vast unbanked population.
MNT-Halan powers Egypt’s fintech future
Founded in 2018 with origins dating back to 2010, MNT-Halan has emerged as a leading fintech ecosystem under Mounir Nakhla. In early 2023, it became Egypt’s first fintech unicorn after securing a $400 million investment, bringing its valuation past $1 billion.
With more than 7 million users, MNT-Halan continues to transform the digital finance landscape, offering a range of services including loans, prepaid cards, e-wallets, e-commerce financing, gold investments, and money market funds.
MNT-Halan expands with AI, acquisitions
At the heart of MNT-Halan’s strategy is its AI-driven Neuron Core Banking system, which optimizes credit decisions, improves fraud detection, and streamlines lending through alternative data models. The company has also expanded into Türkiye and Pakistan, and in December 2024, it launched in the UAE.
Its acquisition of Turkish lender Tam Finans, which brought an additional $300 million loan portfolio, strengthens its position in emerging markets. MNT-Halan’s entry into Pakistan is part of its broader strategy to serve 200,000 customers and grow its loan book to $500 million over the next five years, powered by its AI-driven credit infrastructure.
