Cairo – Mubasher: MNT-Halan has raised about $120 million from a group of global and regional investors, including Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners.

The Egyptian fintech startup has also received venture capital backing from Middle East Venture Partners, Endeavor Catalyst, and DisruptTech, according to a statement. 

Former investors of MNT-Halan include GB Capital, DPI, Algebra Ventures, Wamda, Nowaisi Capital, Unidelta, Egypt Ventures, Battery Road Digital Holdings, and Shaka VC.

"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."

MNT-Halan has received micro, consumer, and nano finance licences from the Egyptian Financial Regulatory Authority (FRA) and the first independent electronic wallet licence from the Central Bank of Egypt (CBE).

The Founder and CEO of MNT-Halan, 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.”