Egyptian fintech company MNT-Halan has successfully secured a substantial $157.5 million in its latest funding round, underscoring its rapid growth and ambitious expansion plans. The investment, led by prominent investors including Abu Dhabi’s ADQ and the European Bank for Reconstruction and Development (EBRD), marks a significant milestone for MNT-Halan, a leading player in the Egyptian financial technology landscape.
In conjunction with this funding success, MNT-Halan has announced the acquisition of a Turkish fintech firm, a strategic move designed to bolster its presence in the Turkish market. This acquisition not only extends MNT-Halan’s footprint into a new and dynamic regional market but also enhances its technological capabilities and product offerings.
The Turkish fintech, known for its innovative payment solutions and strong market presence, will integrate with MNT-Halan’s existing operations, creating synergies that are expected to drive growth and expand the company’s product suite. This expansion aligns with MNT-Halan’s vision of becoming a leading fintech provider across the Middle East and North Africa (MENA) region.
MNT-Halan’s CEO, Mounir Nakhla, emphasized the significance of this dual achievement, stating, “Securing this level of investment and acquiring a key player in the Turkish fintech sector are pivotal steps in our journey. We are excited to leverage these new resources and capabilities to deliver enhanced financial solutions to a broader audience.”
The move positions MNT-Halan to capitalize on the burgeoning fintech opportunities in Turkey and the wider region, reinforcing its commitment to innovation and growth in the financial technology space.