Egyptian fintech MNT-Halan has reached a $1.4 billion valuation following the first closing of a new investment round led by Al Ahly Capital, the investment arm of the National Bank of Egypt (NBE). The deal marks a significant milestone, bringing one of the country’s largest traditional financial institutions into the unicorn’s shareholder base for the first time.
A Landmark Partnership
The investment from Al Ahly Capital signals a growing collaboration between Egypt’s established banking sector and its fast-moving fintech players. The move underscores a shared goal of extending financial services to underserved small businesses and individuals across the country. A second closing for the ongoing round is expected at a later date.
“While we have partnered with more than 30 Egyptian banks, this is the first time a banking institution has become an equity partner in our journey, making this a particularly important milestone for us,” said Mounir Nakhla, Founder and Chairman of MNT-Halan. “Together, we will redefine access to financial services for small and micro businesses, as well as people living in remote towns and villages across Egypt who have historically been underserved.”
Fueling Regional Expansion
MNT-Halan plans to use the new capital to solidify its market position in Egypt and accelerate its regional growth strategy. The company became Egypt’s first fintech unicorn in 2023 and has since expanded its footprint beyond its home market.
Currently, MNT-Halan operates in Egypt and Türkiye, owns a specialized bank for micro and small businesses in Pakistan, and entered the UAE market in 2024. This new funding will support further development across these markets and potential new entries. For Al Ahly Capital, the deal deepens its exposure to non-bank financial services and aligns with its strategy of investing in platforms that drive financial inclusion.
About MNT-Halan
Founded in 2018 by Mounir Nakhla, MNT-Halan is a fintech company that provides a comprehensive digital ecosystem for financial services. Its offerings include business and consumer loans, payments, e-wallets, savings, investments, e-commerce solutions, and prepaid cards, delivered through its app and a nationwide physical network.