MNT-Halan, an Egyptian fintech startup, has raised $400 million in a capital round, including $140 million in securitized bond issuances and $260 million in equity financing.
The majority of the equity funding, $200 million, was supplied by Abu Dhabi-based Chimera Investments in exchange for 20% of the business, helping MNT-Halan attain a $1 billion post-money valuation.
A digital wallet run by MNT-Halan offers lending services, ride-hailing, e-commerce, and bill payments. With loan disbursements totaling over $2 billion, MNT-Halan is Egypt’s largest lender to the unbanked.
Over 5 million people in Egypt are served by MNT-Halan, which intends to provide a debit card by the end of March. After experiencing significant growth in Egypt, MNT-Halan says it wants to grow abroad.