Egyptian fintech and e-commerce ecosystem MNT-Halan raised up to $400 million in equity and debt financing from local and global investors as it continues to serve underbanked and unbanked customers in the North African country.
Halan, which operated a digital wallet that offered bill payments, e-commerce, and ride-hailing services as well as micro, nano, and consumer loans, entered into a swap agreement with MNT Investments (an Egyptian microlending platform with roots dating back to 2010) to provide financing solutions to the underbanked and unbanked. The fintech claims to have made more than $300 million in revenue last year, representing a modest 3.4x multiple on its unicorn valuation that corresponds to current public market calculations.
