Summary
- Egyptian fintech MNT-Halan recently secured $400 million in funding, raising its valuation to over $1 billion.
- Chimera Abu Dhabi invested more than $200 million, giving them equity equivalent to 20% of the company.
- The remaining capital was secured via two securitized bond issuances.
MNT-Halan Secures Funding and Valuation Rises
Egyptian fintech MNT-Halan announced on Feb. 1 that it had raised over $340 million via debt and equity and it expects to raise an additional $60 million from leading international investors. The latest funding round sees MNT-Halan’s valuation rise to over $1 billion which reportedly makes it the country’s „only private billion-dollar company.“
Chimera Abu Dhabi Investment
Chimera Abu Dhabi, a private investment firm that oversees a portfolio consisting of listed and unlisted equities, invested more than $200 million. In return, Chimera Abu Dhabi was awarded equity equivalent to over 20% of the company. Seif Fikry, the investment firm’s CEO commented on their investment: „We are thrilled to be part of Egypt’s greatest fintech success story. MNT-Halan’s upward trajectory and momentum reflect the management team’s realization of its extraordinary vision to transform a high-touch business by seamlessly infusing an unparalleled proprietary tech platform while increasing product depth for its target customer segment.“
Securitized Bond Issuances
The statement revealed that the remaining $140 million capital was secured via two securitized bond issuances. Tasaheel Microfinance Company, one of the two MNT-Halan subsidiaries, has securitized $100 million of its loan book in the second issuance of its securitization program. Halan Consumer Finance has „securitized $40 million of its loan book in its first securitization since its start of operations in 2021.“Valuation At the completion of this funding round, MNT-Halan’s valuation will subsequently rise to over $1 billion according to Techcrunch report which made them Egypt’s only private billion dollar company.
< h2 >Conclusion With this new infusion of funds received by MNT – Halan , they have become Egypt’s only private billion dollar company making it a great success story .