mnt and Halan logos

MNT NEWS

27 June, 2022

MNT-HALAN CLOSES US c.$150 MILLION SECURITIZED BOND ISSUANCE AS PART OF A US $600 MILLION PROGRAM

─ Largest securitization in Egypt’s microfinance sector is 2x oversubscribed ─

Cairo, Egypt – 27 June 2022 – MNT-Halan, Egypt’s leading fintech player, announced today that its wholly- owned subsidiary, Tasaheel, has securitized US$ c.150 million of its loan book in the first issuance of a US $600M program with Commercial International Bank (CIB), Egypt’s largest private sector bank. The proceeds will fuel the company’s accelerated growth across multiple lending business lines and MNT-Halan’s expansion into new verticals.
MNT-Halan is Egypt’s leading fintech and largest non-bank lender to the un- and under-banked. The company’s digital ecosystem includes small business and consumer lending, payments, and e-commerce, all of which are backed by the company’s proprietary technology - Neuron.
Over-subscribed by 2X, the offering reflects the high quality, diversity, and granularity of the portfolio, consisting of 137,000 contracts and a robust cash pay-back ability. Participating regional and local financial institutions included Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait, Al Baraka Bank, Agricultural Bank of Egypt and the Housing and Development Bank.
The issuance, divided into four tranches, has been rated Prime 1 for the first three and A for the fourth by MERIS (Middle East Rating & Investor Service).
Commenting on the issuance, MNT-Halan CEO Mounir Nakhla said, “We are especially pleased with the confidence that investors have placed in our company. CIB’s role was instrumental. This transaction marks our first securitization and ensures our continued growth as we expect our loan book to exceed US $2 billion over the next couple of years. This will be driven by our digital strategy capitalizing on synergies and venturing into new verticals.”
Karim Nassef, CEO of Talabeyah, added, “We are happy to have finally reached the closing and are very much looking forward to growing our business nationwide. Teaming with MNT-Halan provides us with extensive talent and technological and financial power to allow us to rapidly scale our operations. We are thrilled to be part of MNT-Halan’s vision and are excited to expand cross border with them.”
Mennan Awadallah, Head of Debt Capital Markets at CIB, added, “This transaction underscores our commitment to promoting sustainable long-term growth for the bank, our customers, and all our stakeholders and demonstrates our support for our customers throughout their journeys. We started with Tasaheel with a US c.$5 million facility in 2016 and are proud to see how fast they have grown. We work to tie our own financial success to the economic advancement of communities throughout Egypt with the ultimate goal of driving financial inclusion. We are delighted to continue supporting a business that has solid economics and serves the needs of the unbanked.”
CIB served as financial advisor and general arranger of the transaction, with National Bank of Egypt serving as co-financial advisor and underwriter. Arab Africa International Bank and NI Capital served as underwriters.  Maatouk, Bassiouny and Hennawy served as legal advisors. About MNT-Halan
MNT-Halan is Egypt’s leading fintech ecosystem and the largest and fastest growing lender to the unbanked and underbanked. Founded in 2018, with roots dating back to 2010, the company is headquartered in Cairo, Egypt. MNT-Halan was created to digitally bank the unbanked and substitute cash with electronic solutions. The MNT-Halan digital ecosystem includes small and micro business lending, payments, consumer finance, and e-commerce. With c.1 million monthly active users, MNTHalan serves more than 4 million customers in Egypt, of which 3.1 million are financial clients and 1.8 million are borrowers. MNT-Halan has obtained the micro, consumer and nano finance licenses from the Financial Regulatory Authority enabling it to provide services to both businesses and consumers across Egypt. It has also obtained the first independent electronic wallet license from the Central Bank of Egypt to disburse, collect and transfer money digitally through mobile applications. For more information, please visit the company’s website at https://mnt-halan.com.
Contacts:
MNT-Halan
Andre Valavanis
VP of Investments and Corporate Strategy
Eterna Partners
Communications advisors to MNT-Halan
Serra Balls
+44 777 576 3018
Hannah Burns
+1 917 365 2601
[email protected]

22 June, 2022

MNT-HALAN ACQUIRES TALABEYAH, INTEGRATED FMCG E-COMMERCE AND DISTRIBUTION PLATFORM

DIGITAL ACCESS TO HUNDREDS OF THOUSANDS OF MERCHANTS ACROSS EGYPT TO CROSS-SELL AND SPUR GROWTH ACROSS LENDING, PAYMENTS, AND ECOMMERCE

Cairo, Egypt – June 22, 2022 – MNT-Halan, Egypt’s leading fintech player, announced today the acquisition of Talabeyah, a B2B e-commerce platform that offers FMCG supplies directly to small merchants, retailers, and soon, consumers, meeting all their requirements with next-day delivery. As a result of this transaction, MNT-Halan will be disrupting the current multi-layered and fragmented FMCG supply chain model and empowering small merchants.
MNT-Halan’s digital ecosystem includes small business and consumer lending, payments, and e-commerce. Adding a digital FMCG offering to MNT-Halan’s merchant network greatly enhances the company’s breadth and scope and increases stickiness to its ecosystem.
The terms of the transaction were not disclosed.
Talabeyah was founded in 2020 by Karim Nassef, Amr Abbas, and Khaled Hussein to disrupt and digitize the informal FMCG market in Egypt by leveraging technology, an innovative supply chain model, and the founders’ extensive experience in the FMCG sector. Talabeyah’s digital platform provides small retailers immediate access to an extensive range of products, clear visibility on pricing, and a highly reliable quality of service to help them optimally manage their businesses.
Commenting on the acquisition, MNT-Halan CEO, Mounir Nakhla, said, “The acquisition of Talabeyah is another step in our strategy of building a comprehensive digital ecosystem and is a perfect fit for our two companies. Talabeyah has developed an elaborate online catalogue, signed contracts with the largest FMCG suppliers, and demonstrated solid execution of its operations. MNT-Halan will enable Talabeyah to scale nationwide by providing access to hundreds of thousands of merchants and retailers, financing their customers’ purchases and backing the firm with our 120 tech engineers. I am excited to partner with Karim and his talented team to continue to extend our product offering to Egyptian retailers and further grow our loan book and margins.”
Karim Nassef, CEO of Talabeyah, added, “We are happy to have finally reached the closing and are very much looking forward to growing our business nationwide. Teaming with MNT-Halan provides us with extensive talent and technological and financial power to allow us to rapidly scale our operations. We are thrilled to be part of MNT-Halan’s vision and are excited to expand cross border with them.”
VanCampen Liem, Maatouk, Bassiouny & Hennawy, White & Case, and Van Doorne were legal advisors on the transaction.
About MNT-Halan
MNT-Halan is Egypt’s leading fintech ecosystem and the largest and fastest growing lender to the unbanked and underbanked. Founded in 2018, with roots dating back to 2010, the company is headquartered in Cairo, Egypt. MNT-Halan was created to digitally bank the unbanked and substitute cash with electronic solutions. The MNT-Halan digital ecosystem includes small and micro business lending, payments, consumer finance, and e-commerce. With c.1 million monthly active users, MNTHalan serves more than 4 million customers in Egypt, of which 3.1 million are financial clients and 1.8 million are borrowers. MNT-Halan has obtained the micro, consumer and nano finance licenses from the Financial Regulatory Authority enabling it to provide services to both businesses and consumers across Egypt. It has also obtained the first independent electronic wallet license from the Central Bank of Egypt to disburse, collect and transfer money digitally through mobile applications. For more information, please visit the company’s website at www.mnt-halan.com.
Contacts:
MNT-Halan
Andre Valavanis
VP of Investments and Corporate Strategy
Eterna Partners
Communications advisors to MNT-Halan
Serra Balls
+44 777 576 3018
Hannah Burns
+1 917 365 2601

19 January, 2022

MNT-HALAN’S LAUNCH OF BUY NOW PAY LATER, COUPLED WITH CONSUMER FINANCE AND DELIVERY, CREATES EGYPT’S FIRST END-TO-END CUSTOMER EXPERIENCE IN A SINGLE APP

Cairo, Egypt – January 19, 2022 – MNT-Halan, Egypt’s leading fintech player, has announced the successful addition of its Buy-Now-Pay-Later (BNPL) feature to its comprehensive digital ecosystem that includes small and micro business lending, payments, consumer finance, bill payments, e-commerce, and delivery, all of which are backed by Neuron, the company’s proprietary technology.
As Egypt’s first provider of the full BNPL experience through the Halan consumer and merchant apps, users are given all the tools they need to purchase, pay and have delivered anything they want when they want it. Merchants benefit from accelerated growth in their business and increased customer loyalty by offering payment flexibility. Customers are also able to use their credit limits both online and in stores. Since its introduction three months ago, over 1,500 merchants have been onboarded through the Halan merchant app. More than 25,000 customers have transacted and an additional 50,000 new customers are currently in the onboarding process. MNT-Halan is witnessing tremendous traction with more than $10 million dollars of bookings in December which have been growing at over 100% month-over-month. The revenue model for BNPL includes merchant rebates as well as interest revenue from consumers with credit limits.
MNT-Halan CEO Mounir Nakhla commented, “We are revolutionizing the shopping experience in Egypt by delivering value and convenience to the consumer in one app. We are also growing our e-commerce platform and onboarding third party merchants to increase our digital offering. Our off-line merchant feedback has also been phenomenal. I am very happy to see that we are significantly growing the revenue streams of every merchant we have onboarded.”
Ahmed Mohsen, MNT-Halan’s co-founder and CTO, added that “We’ve put a significant amount of effort into our BNPL and consumer financing features. From seamless checkout experiences to offline vendor discovery, the design is aimed at a positive customer experience, and we look forward to having Halan as the standard payment option in the near future.”

The BNPL process is simple and provides the customer with 3 options:
1. Online E-Commerce:
• Access the E-Commerce Catalogue on the Halan app
• Choose from an online product catalogue and then apply for a loan to finance purchase which will be approved in the same day
• Product is delivered within 24-48 hours
2. Online Merchant Website:
• Select payment options from the merchant list: cash, credit, or Halan card
3. Vendors:
• Choose from the Halan app the preferred merchant to show the direction to the store
• Pay for the products with the Halan BNPL/consumer finance limits shown on the app
• Merchants approve payments through the Vendor App

8 September, 2021

Egyptian fintech MNT-Halan attracts circa US$120 million from global investors

MNT-Halan, Egypt’s leading fintech ecosystem, announced today a circa US$120 million investment by major global and regional growth investors: Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners. In addition, the company has also attracted venture capital backing from Middle East Venture Partners, Endeavor Catalyst, and DisruptTech. This round of investment demonstrates confidence in the fintech opportunity in Egypt and further institutionalizes the capitalization table of MNT-Halan. Previous investors of MNT-Halan have included GB Capital, DPI, Algebra Ventures, Wamda, Nowaisi Capital, Unidelta, Egypt Ventures, Battery Road Digital Holdings, and Shaka VC. Capitalizing on MNT-Halan’s first mover advantage, proprietary and highly scalable tech capabilities and strong brand in Egypt, this funding endorses its strategy to drive further innovation in its technology, product development, scale to tens of millions of customers, and expand cross-border. The investment also recognizes the scale and long-term potential of MNT-Halan, which has been granted micro, consumer and nano finance licenses from the Egyptian Financial Regulatory Authority, as well as the first independent electronic wallet license from the Central Bank of Egypt. Committed to bringing seamless financial services to the unbanked and underserved customers in Egypt and the surrounding region, MNT-Halan has developed its scalable proprietary fintech ecosystem in-house, connecting customers, vendors and micro-enterprises through its consumer facing app, merchant app, Halan Neuron (distributed lending and payment processing software) and payment solutions (wallets and cards). More than 70% of the population of Egypt’s young and fast growing population of over 100 million is financially under-served and overlooked by traditional financial institutions, yet mobile penetration exceeds 90%. MNT-Halan’s digital solutions, including lending, BNPL, e- commerce, payments, and on-demand logistics, support its mission to empower underserved communities, address inequality and female economic participation. With c.1 million monthly active users, MNT-Halan serves more than 4 million customers in Egypt, of which 3.1 million are financial clients and 1.8 million are borrowers. The company has disbursed more than US$1.7 billion of loans. Its monthly throughput exceeds US$100 million which has grown over 20x in the past five years. Commenting on the investment, Matteo Stefanel and Udayan Goyal, Managing Partners and Apis Partners Co-founders, said, “We are thrilled to be investing in MNT-Halan, which is our first investment in Egypt. Our belief is that they will be the leading player digitizing the unbanked and bringing financial services to millions of underserved customers in the country, and we look forward to partnering with them to extend their impressive growth trajectory. We believe Mounir Nakhla’s track record, combined with MNT-Halan’s tech team and operational expertise, provide the ideal opportunity to invest in Egypt’s fintech sector.” DPI Partner Sofiane Lahmar said: “Since our partnership with Mounir and his team dating to 2018, MNT-Halan has rapidly evolved into a market-leading financial technology business, working to drive entrepreneurship and economic development in critically underserved markets. The company is well-positioned to benefit from Egypt and the region’s favourable demographics and rising adoption of digital technologies in its next growth phase. Our ADP III investment in MNT- Halan reaffirms our belief in the management team, and our commitment to the company and its long-term growth prospects, as we continue our focus on investing in high-growth, impact- driven companies from Africa’s fast growing middle class.” Dr. Raouf Ghabbour, Executive Chairman of GB Auto, the parent company of GB Capital, said, “Since GB Capital first supported Nakhla, the business has delivered on its strategy and has become the prime market player. MNT-Halan has huge potential and we are very excited to welcome these sophisticated investors with deep fintech and emerging markets expertise into our capital structure, laying the foundation for explosive growth in Egypt and beyond.” MNT-Halan Founder and CEO, Mounir Nakhla, said, “We are at the forefront of the digital revolution sweeping across Egypt, bringing together the unbanked population with our technology. We are on track to bring financial inclusion to tens of millions of Egyptians. As a result, we will unleash this segment’s earnings potential and drive greater participation in the economy.”
The investor group includes:
• Apis Growth Fund II, a London based private equity fund managed by Apis Partners LLP, an ESGI-native private equity firm that specializes in financial services. MNT- Halan represents Apis Partners’ first investment in Egypt;
• African Development Partners III (ADP III), a London based private equity fund advised by Development Partners International (DPI), one of the most active private equity investors in Egypt and Africa with four investments made to date in Egypt. DPI, through a predecessor fund to ADP III was an anchor investor in MNT-Halan in 2018;
• Lorax Fund II, a private equity fund managed by Lorax Capital Partners, an Egypt- focused investment firm with an unmatched record of investing in high-growth opportunities;
• The largest venture capitalists in Egypt and the region, including Algebra Ventures, DisrupTech, Endeavor Catalyst, Egypt Ventures, MEVP, and Wamda, in addition to the backing of Nowaisii Capital, Shaka Capital, Uber’s founding CTO Oscar Salazar, Unidelta, and Battery Road Digital Holdings.
White & Case, Freshfields, Lexence, and Mattouk Bassiouny & Hennawy served as legal advisors on the transaction.

23 June 2021

MNT-Halan Disrupts the Lending and Payments Industries in Egypt and the Surrounding Region

MNT BV, a Netherlands corporation, announced today that it has entered into a share swap agreement with Halan Inc. (“Halan”), a Delaware corporation and Egypt’s super app. This follows the recent consolidation of 100% of the shares of Raseedy, the first independent and interoperable digital wallet in Egypt licensed by the Central Bank of Egypt. This transaction will serve to accelerate the digitization of the lending and payments industries in Egypt and its surrounding region. The terms of both transactions were not disclosed. Commenting on the transaction, Mounir Nakhla, Founder and CEO said, “This transaction acts as a catalyst in digitizing lending, payments, e-commerce, consumer finance (buy now pay later) and logistics for millions of underserved and unbanked customers. Our digital platform will enable them to seamlessly access all of their financial and commercial needs. This is a turning point in our history.” Nakhla is also an Endeavor entrepreneur. Halan Co-Founder and CTO Ahmed Mohsen added, “I am pleased to see everything come together. We are experiencing exceptional growth and our infrastructure is built to scale. All the digital solutions are developed in-house, including the core banking system, consumer facing platforms, payment solutions, merchant application, and all the required integrations. As the momentum continues, we look forward to expanding outside of Egypt.”