Egyptian fintech MNT-Halan lands $120M from Apis Partners, DisrupTech and others
Over 70% of Egypt’s fast-growing and young population of over 100 million is economically underserved in spite of mobile penetration surpassing 90%. Due to the fact that of their costs power or monetary status and fintechs have seized the opportunity to cater to their requirements, traditional banks frequently ignore this segment. One such fintech is MNT-Halan, and today, the company which […] In 2017, Mounir Nakhla and Ahmed Mohsen began Halan as a ride-hailing and shipment app providing 2 and three-wheeler services to clients in Egypt. MNT-Halan claims to be Egypt’s largest and fastest-growing lender to the unbanked. Serving over 4 million clients in Egypt, of which 1 million are monthly active users, MNT-Halan has actually disbursed over $1.7 billion worth of loans to 1.8 million debtors given that beginning. The co-founders and managing partners Matteo Stefanel and Udayan Goyal said this in a declaration, “We are delighted to be investing in MNT-Halan, which is our very first financial investment in Egypt. …
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