MNT-Halan Hits $1.4B Valuation After Al Ahly Capital Investment : TechMoran

Egyptian fintech MNT-Halan has reached a $1.4 billion valuation after completing the first closing of a new investment round led by Al Ahly Capital, the investment arm of the National Bank of Egypt. The companies did not disclose the amount invested, and MNT-Halan said a second closing is expected as part of the ongoing round. The deal makes Al Ahly Capital an equity shareholder in MNT-Halan — marking the first time a commercial bank has taken a stake in the fintech.

"We will use most of the proceeds to expand our operations in Egypt and support our regional expansion, including plans to enter additional Gulf markets," MNT-Halan said, outlining how it intends to deploy the fresh capital.

The investment signals a deeper strategic link between Egypt's banking sector and non-bank financial services platforms. MNT-Halan said it has previously partnered with more than 30 Egyptian banks and financial institutions, and the equity stake by Al Ahly Capital formalises a relationship that until now had been largely collaborative rather than ownership-based.

Details and footprint

• Founder: Mounir Nakhla.
• Valuation after round first close: $1.4 billion.
• Previous raise: $150 million in 2023, when MNT-Halan was valued at $1 billion; investors included Chimera Abu Dhabi and the International Finance Corporation.
• Customer reach: The company says it has served more than 4 million individuals and business owners.
• Operations: Active in Egypt and Türkiye, owns a specialised bank serving micro and small businesses in Pakistan, and has operated in the UAE since 2024.

MNT-Halan has built a diversified non-bank financial services platform offering financing for smartphones, commercial and personal vehicles and other lending products for individuals and small businesses. The company said the fresh capital will be primarily allocated to scaling its Egyptian operations and supporting regional expansion, with explicit plans to target additional Gulf markets.

For Al Ahly Capital, the move fits within what the firm described as its private equity approach. "The investment is part of its private equity strategy of backing high-growth businesses in sectors that support financial inclusion and economic development," the firm said, framing the transaction as both commercially strategic and aligned with broader inclusion objectives.

Context and implications

• This equity investment marks the first time a commercial bank has taken a direct ownership stake in the fintech, a noteworthy precedent in Egypt's financial sector.
• MNT-Halan's 2023 $150 million raise had already pushed the company to unicorn status at a $1 billion valuation; the new closing lifts that valuation by 40%.
• The company’s footprint across Egypt, Türkiye, Pakistan and the UAE positions it to capitalise on cross-border demand for small-ticket financing and vehicle loans, areas where it has already reported significant traction among micro and small-business customers.

Outlook: With Al Ahly Capital now an equity partner and a second closing still anticipated, MNT-Halan is positioned to accelerate its expansion in the Gulf and deepen its domestic market presence. The deal could encourage further equity partnerships between traditional banks and fintechs in the region as regulators and investors eye broader digitalisation and financial inclusion goals.