Cairo – Mubasher: Egyptian fintech company MNT-Halan has acquired Tam Finans, a Turkish commercial finance company with loan book exceeding $300 million, from Actera Group, and the European Bank for Reconstruction and Development (EBRD).

Legal and financial advisors for the transaction included Maatouk Bassiouny & Hennawy, Esin Attorney Partnership, Van Campen Liem, Clifford Chance, PWC, and BCG, according to a press release.

MNT-Halan's acquisition of Tam Finans in Turkey follows its recent expansion into Pakistan, highlighting the company's scalable and diversified business model.

The company raised $157.50 million from International Finance Corporation (IFC) and existing shareholders, reflecting confidence in its ability to expand internationally.

Mounir Nakhlam, Founder and CEO of MNT-Halan, said: “Combining Tam Finans’ credit models, distribution capabilities, and management team with MNT-Halan's technology, customer-facing app, and financial muscle will help complete the product offering and give greater confidence to all its stakeholders.”

Hakan Karamanlı, CEO of Tam Finans, commented: “MNT-Halan’s scalable technology will now allow us to grow faster and take our mission to more businesses and people as we capture cross-selling opportunities through an expanded product and services offering.”

Turkey presents a significant market opportunity with a population of 85 million, a GDP over $1 trillion, and a low household debt-to-GDP ratio of 11.70%.

MNT-Halan’s digital financial solutions aim to transform the banking sector for both businesses and individuals in the country.