MNT-Halan, a leading fintech player led by Egyptian entrepreneur Mounir Nakhla, has announced the acquisition of Talabeyah, a Cairo-based B2B e-commerce platform that provides FMCG supplies to small merchants, retailers, and consumers.
Karim Nassef, Amr Abbas, and Khaled Hussein founded Talabeyah in 2020 with the goal of disrupting and digitizing Egypt’s informal FMCG market by leveraging technology, an innovative supply chain model, and the founders’ extensive experience in the FMCG sector.
Experts believe that the acquisition of the B2B e-commerce platform will put the Egyptian startup on track to disrupt the current multilayered and fragmented FMCG supply chain model and empower small merchants.
Nakhla, MNT-Halan’s CEO, revealed that the acquisition aligns with the fintech firm’s strategic expansion plans as it moves to deliver value.
“The acquisition of Talabeyah is another step in our strategy of building a comprehensive digital ecosystem and is a perfect fit for our two companies,” he said. “I am excited to partner with Karim and his talented team to continue to extend our product offering to Egyptian retailers and further grow our loan book and margins.”
He explained that the acquisition will allow Talabeyah to scale across the country by gaining access to hundreds of thousands of merchants and retailers, financing their customers’ purchases, and bolstering the company with its 120 tech engineers.
Founded in 2018, with roots dating back to 2010, MNT-Halan has grown into a leading fintech ecosystem and the largest and fastest-growing lender to the unbanked and underbanked.
It currently serves more than 4 million customers in Egypt, with over 1 million monthly active users on its platform, including 3.1 million financial clients and 1.8 million borrowers.
MNT-Halan obtained micro, consumer, and nano finance licenses from the Financial Regulatory Authority in an effort to expand its reach in the fintech ecosystem, allowing it to provide services to both businesses and consumers throughout Egypt.
