MNT-Halan Secures $400 Million in Funding Boost for Egypt's Fintech Landscape

“MNT-Halan Secures $400 Million in Funding Boost for Egypt’s Fintech Landscape”

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Investors include the European Investment Bank, the International Finance Corporation and the Arab Bank.

CAIRO, Feb 1(Reuters) – Egyptian microfinance lending and payments company MNT-Halan is securing $400 million in new equity and finance, bringing its valuation to more than $1 billion, the company said in a statement on Wednesday.

MNT-Halan Secures $400 Million in Funding Boost for Egypt's Fintech Landscape
MNT-Halan Secures $400 Million in Funding Boost for Egypt’s Fintech Landscape

The investments include an equity stake of at least 20% of MNT-Halan worth more than $200 million taken by private equity firm Chimera Abu Dhabi. Another $60 million in primary capital is being secured from international investors, the statement said.

EIB, IFC and Arab Bank are some of the most notable investors in this round of funding.

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