MNT-Halan, Egypt’s first unicorn and fastest-growing fintech startup, has raised a US$130 million securitisation, one of five tranches of securitised bond issuances this year that have so far banked it over US$400 million. Founded in 2018, MNT-Halan was created to digitally bank the unbanked and substitute cash with electronic solutions. With more than 1.5 million quarterly active users, MNT-Halan has served more than seven million customers in Egypt. This gives us great comfort as our loan book of US$650 million is growing at four-five per cent month-over-month. In addition to CIB and CI Capital, participating regional and local financial institutions included Al Ahli Bank of Kuwait, Al Baraka Bank, Arab African International Bank, Arab African Investment Management, Midbank, Misr Asset Management, SAIB Bank, ABC Bank, Arab International Bank, Banque Misr and the Housing and Development Bank.

Source: The North Africa Journal November 06, 2023 06:14 UTC