Egypt’s largest bank buys stake in MNT-Halan as valuation reaches $1.4 billion

Egyptian fintech MNT-Halan has secured investment from Al Ahly Capital, the investment arm of the National Bank of Egypt (NBE), valuing the company at $1.4 billion — a roughly 40% increase from its valuation when it became Egypt’s first fintech unicorn in 2023. The deal marks the first time a commercial bank has taken an ownership stake in MNT-Halan and arrives as the company steps up regional expansion across the Middle East and North Africa.

“I am extremely happy to have Al Ahly Capital, the investment subsidiary of Egypt’s largest bank, as a shareholder in the company. While we have partnered with more than 30 Egyptian banks, this is the first time a banking institution has become an equity partner in our journey, making this a particularly important milestone for us,” Mounir Nakhla, founder of MNT-Halan, said in a statement. “Together, we will redefine access to financial services for small and micro businesses, as well as people living in remote towns and villages across Egypt who have historically been underserved.”

The first closing of the new funding round was led by Al Ahly Capital and lifts the firm’s valuation to $1.4 billion. Founded in 2018 by Mounir Nakhla, MNT-Halan began as a ride-hailing and logistics platform and has since broadened into one of the region’s largest non-bank financial services providers. The company reports having disbursed more than $15.5 billion in financing since launch and serving over 8 million customers globally.

• Strategic acquisitions in 2024 accelerated regional reach: MNT-Halan acquired Advans Pakistan Microfinance Bank and Turkish commercial finance company Tam Finans. The Turkish acquisition added a loan portfolio of roughly $300 million, while the Pakistan purchase provided access to a regulated banking licence focused on micro and small enterprises.
• Geographic expansion included entry into the United Arab Emirates in late 2024.
• Capital history: MNT-Halan raised $157.5 million in 2024 to support international expansion.
• Growth targets: the company has previously outlined plans to grow its financing portfolio to between $4.5 billion and $5 billion by the end of 2026.

The investment by Al Ahly Capital is notable beyond the valuation bump because it signals a shift in strategy for traditional lenders. Although MNT-Halan has worked with more than 30 banks and financial institutions across Egypt, the National Bank of Egypt’s investment vehicle is the first to become an equity partner rather than remain solely a collaborator. For the NBE, the deal provides direct exposure to digital consumer finance and micro-lending growth without building a new platform from scratch.

Market context underlines the opportunity: data from Egypt’s Financial Regulatory Authority shows consumer finance volumes rose 57% year-on-year to EGP96.3 billion ($1.9 billion) by the end of 2025, while financing to micro, small and medium enterprises and microfinance clients grew 24% to EGP106.9 billion ($2.1 billion). These trends have helped position Egypt as a leading fintech market in the region.

Outlook

With Al Ahly Capital now a shareholder, MNT-Halan gains access to the balance-sheet strength and customer reach of Egypt’s largest banking group as it pursues an aggressive regional scaling strategy. Analysts have linked the company to potential public listing plans as it consolidates acquisitions and works toward its $4.5–$5 billion financing portfolio target. The deal underscores a broader industry pivot: incumbent banks increasingly prefer buying stakes in digital lenders to competing directly, accelerating collaboration between traditional finance and fintech across the region.