The Clap
MNT-Halan, a platform that connects consumers, vendors, and micro-enterprises through a digital platform and payment solutions, has raised $120 million!
What does MNT-Halan do, exactly
Well, a little bit of everything.
MNT-Halan is Egypt’s first private non-bank company to be licensed by the CBE to operate a digital wallet, which allowed it to provide a variety of services.
The platform’s services include e-wallets, e-payments, e-commerce services, installment sales services, & digital financing for individuals and merchants.
Why is this important
More than 70% of Egypt’s young and fast-growing population are financially underserved, despite mobile penetration exceeding 90%.
MNT-Halan has over four million customers in Egypt, one million monthly active users, and has disbursed more than $1.7 billion in loans.
The investments signal significant interest and commitment from investors to the fintech scene in Egypt. The company plans to serve tens of millions of customers, enhance technology & product development innovation, and expand cross-border.
