Finovate Global Egypt: Investing in Unicorns and Point of Sale Financing Startups

Egyptian fintechs continued to attract significant capital and strategic partnerships this week, led by MNT-Halan’s valuation surge to $1.4 billion following an initial $30 million investment from Al Ahly Capital, the investment arm of the National Bank of Egypt, and by Blnk’s $37 million combined debt and equity round supporting point-of-sale financing expansion. Meanwhile, partnerships and product integrations — including a Telda tie-up with Mastercard — signal growing focus on embedded payments and retail credit solutions across the market.

"While we have partnered with more than 30 Egyptian banks and financial institutions, this is the first time a commercial bank has become an equity partner in our journey, making this a particularly important milestone for us," Mounir Nakhla, Founder and Chairman of MNT-Halan, said. "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."

MNT-Halan’s new valuation marks a notable moment for the company, which reached unicorn status in 2023 as the first Egyptian fintech to surpass a $1 billion valuation. The firm disclosed that Al Ahly Capital’s stake represents the first closing of a funding round expected to exceed $70 million, with $30 million already injected. Headquartered in Giza and operating across Egypt, Turkey, the UAE and Pakistan — where it owns a bank serving micro and small businesses — MNT-Halan reports more than 1.5 million quarterly active users, over eight million customers served since its 2018 founding, and more than $15.5 billion in loans disbursed.

Investment and partnership activity extended beyond MNT-Halan. Cairo-based Telda announced a collaboration with Mastercard to embed Mastercard’s digital capabilities into Telda’s app, connecting everyday payments and investment wallets. "By embedding Mastercard’s digital capabilities within Telda’s platform, we are creating a seamless bridge between everyday payments and investment opportunities, empowering users to manage, grow, and access their wealth instantly," said Mohamed Assem, Mastercard Country Manager for Egypt, Iraq, Lebanon, and Syria. Telda CEO Ahmed Sabbah added: "The integration of daily payments and the investment wallet within a single app through our collaboration with Mastercard marks a significant leap forward, giving individuals immediate control over their money."

Point-of-sale financing remains an active funding theme. Egyptian BNPL provider Blnk raised $37 million in a mix of debt and equity, including $12.5 million in equity led by Algebra Ventures with participation from SANAD Fund for MSME, Endeavor Catalyst, and Emirates International Investment Company, plus $24.6 million in debt facilities from local banks. "This new round of funding positions us to strengthen our profitability—expanding our reach, diversifying our offerings and doubling down on our commitment to unlocking financial access for millions of consumers in Egypt and beyond," Blnk Co-founder and CEO Amr Sultan said.

Blnk — founded in 2020 and headquartered in Giza — highlighted rapid growth since its 2022 seed round: more than one million customers, a loan portfolio exceeding EGP 1 billion, and profitability in 2025. The company said 75% of its customers were previously unbanked or underserved and more than 35% are women. Its product offers instant approvals at retail using National ID and mobile number, and relies on proprietary AI-driven risk maps and machine learning models to produce real-time Probability of Default predictions for instant credit decisioning.

Outlook

• Further closings and regional expansion are expected for MNT-Halan as it deploys fresh capital across Egypt and neighboring markets.
• Embedded payments and investing-to-pay flows, exemplified by the Telda–Mastercard integration, could accelerate digital wallet adoption among millennials and Gen Z.
• Blnk’s mix of equity and local bank debt demonstrates appetite from both investors and lenders for retail financing products that target the largely underbanked Egyptian population.