MNT Halan, a platform specialized in providing integrated financial services, announced receiving an investment from private funds worth $120m.
The new funding round was led by major international and regional investors including Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners. The round also included Middle East Venture Partners; Endeavor Catalyst and DisrupTech Fund.
The services provided by the MNT Halan platform include electronic wallets, electronic payments, e-commerce services, installment sales services and digital financing for individuals and merchants, and is committed to providing smooth financial services to customers who do not deal with banks and who suffer from a lack of services in Egypt and the surrounding region, and to build integrated solutions For customers, sellers and small businesses including lending, e-commerce, payments and on-demand logistics.
Commenting on the funding round, Mounir Nakhlah, CEO and Managing Director of MNT Halan said, “We are on the right track to achieve financial inclusion for tens of millions of Egyptians, and create significant space for rapid growth of fintech.”
Mohamed Okasha, Head of the DisrupTech Fund, said the Halan platform qualifies to become one of the largest financial technology companies in the Middle East, thanks to the diversity and integration of services it provides, as it uses a unique technology developed in Egypt. “We hope to help in becoming the largest company in the region.”
This MNT Halan investment is the seventh for DisrupTech in Egypt since its launch, following Brimore, Khazna, Fatura, Cassbana, Mozare3, and Gahez.