Fintech startup MNT-Halan raked in an impressive $400 million in a hybrid equity-debt financing round, propelling its post-money valuation to much-coveted billion-dollar unicorn status.
Africa’s unicorn landscape had remained fallow since Nigeria’s Chipper Cash achieved a similar feat in November 2021, through a Series C extension led by FTX and totaling $150 million.
MNT-Halan’s feat entrenches Egypt in the elite club of African states with unicorns, boosted by growing investor confidence in the land of Pharaohs.
Egypt is a regional tech hub
But it has not come as a surprise. In 2021, Egypt topped the list as the most robust market for investment on the continent, according to a Rand Merchant Bank report.
Another 2021 report by Disrupt Africa showed that Egypt was on course to edge out more established startup ecosystems like South Africa, Nigeria, and Kenya for levels of entrepreneurial innovation and investment.
Since January 2015, it notes that more than $791 million have been raised by some 318 tech startups across 447 individual rounds.
Every year, Egypt has been adding 114 tech startups to its ecosystem, from a paltry 10 in 2015. Consequently, annual funding secured by the companies has risen significantly from $8.6 million to $156 million in 2020.
MNT-Halan’s billion-dollar valuation
Egypt’s MNT-Halan’s latest billion-dollar valuation shows the country’s potential as the new frontier of mega VC funding in Africa.
MNT-Halan dates back to 2017, when co-founders Mounir Nakhla and Ahmed Mohsen initiated the development of a ride-hailing platform, simply known as Halan, in the vicinity of Zamalek, Giza.
Within the first year of its market launch, the fledgling firm expanded its offerings to encompass both business-to-business (B2B) and business-to-consumer (B2C) on-demand logistics solutions.
The following two years saw the advent of food delivery and a strategic pivot towards becoming a super app.
During this transitional phase, MNT-Halan procured a Series A financing round worth $4.3 million and a Series B round worth $15 million.
In 2021, the company underwent a rebranding exercise following a share swap deal with Dutch microlender MNT Investments BV, officially becoming MNT-Halan and entering the fintech ecosystem with global ambitions. MNT-Halan has been specializing in mobile payments and financial services for underbanked communities, making waves in the industry with its innovative solutions and rapid growth.
The rise of super apps in Africa
The company’s cutting-edge technology has enabled it to serve thousands of customers in Egypt, providing them with access to financial services that were previously unavailable.
According to the company’s CEO, Mounir Nakhla, the company had issued loans worth over $65 million in the previous month and has a well-balanced non-performing ratio.
“We’re capitalizing on our existing distribution through million-plus customers and adding services within our ecosystem. If you need a loan for your business, we’re going to give you one; you need a loan for consumption, we’re going to give you one; you need to order groceries or buy a mobile phone on our platform, we’ll deliver it to you via our e-commerce stores. Also, we can give them the credit they can use to make all of these purchases within the ecosystem,” WeeTracker quoted Nakhla as saying of the company’s all-encompassing approach.
Source: Seth Onyango, bird story agency
157 replies on “Egypt’s MNT-Halan is Africa’s newest unicorn”
For anyone who hopes to find valuable information on that topic, right here is the perfect blog I would highly recommend. Feel free to visit my site YK3 for additional resources about Content Writing.
Hey there, I appreciate you posting great content covering that topic with full attention to details and providing updated data. I believe it is my turn to give back, check out my website QU9 for additional resources about Cosmetics.
Next time I read a blog, I hope that it won’t disappoint me as much as this particular one. I mean, I know it was my choice to read through, however I truly thought you would have something helpful to say. All I hear is a bunch of complaining about something that you can fix if you were not too busy seeking attention.
I’m amazed, I must say. Rarely do I encounter a blog that’s equally educative and entertaining, and without a doubt, you have hit the nail on the head. The issue is something which too few people are speaking intelligently about. I’m very happy that I found this in my search for something regarding this.
There is certainly a lot to learn about this subject. I love all the points you made.
Hi there! I simply wish to give you a huge thumbs up for your great info you’ve got here on this post. I’ll be returning to your website for more soon.
Pretty! This has been a really wonderful article. Thank you for supplying this information.
Your style is unique compared to other folks I have read stuff from. Thank you for posting when you’ve got the opportunity, Guess I’ll just bookmark this page.
I absolutely love your blog.. Great colors & theme. Did you create this web site yourself? Please reply back as I’m looking to create my own personal website and would love to learn where you got this from or exactly what the theme is called. Thank you!
This blog was… how do you say it? Relevant!! Finally I’ve found something which helped me. Many thanks!
I blog quite often and I genuinely thank you for your information. Your article has really peaked my interest. I will take a note of your site and keep checking for new details about once a week. I opted in for your RSS feed too.
Spot on with this write-up, I absolutely believe this amazing site needs much more attention. I’ll probably be returning to read more, thanks for the information!
A motivating discussion is definitely worth comment. I believe that you ought to publish more on this issue, it might not be a taboo subject but typically people do not talk about these topics. To the next! Many thanks!
I used to be able to find good info from your blog posts.
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
You are so awesome! I do not believe I’ve read through anything like that before. So wonderful to discover another person with a few genuine thoughts on this topic. Seriously.. many thanks for starting this up. This website is something that is required on the web, someone with a bit of originality.
May I just say what a relief to find an individual who truly knows what they are discussing over the internet. You certainly understand how to bring an issue to light and make it important. More people have to look at this and understand this side of the story. I was surprised that you’re not more popular since you surely possess the gift.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Pretty! This has been an extremely wonderful post. Many thanks for providing this information.
Good article. I certainly appreciate this website. Keep it up!
Everything is very open with a very clear description of the challenges. It was truly informative. Your website is useful. Thanks for sharing!
Wonderful post! We are linking to this great post on our website. Keep up the great writing.
I seriously love your site.. Very nice colors & theme. Did you develop this amazing site yourself? Please reply back as I’m wanting to create my own site and want to learn where you got this from or just what the theme is called. Thank you!
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
I blog frequently and I genuinely appreciate your content. The article has really peaked my interest. I’m going to take a note of your site and keep checking for new details about once a week. I opted in for your RSS feed as well.
This is a great tip particularly to those new to the blogosphere. Brief but very precise info… Thanks for sharing this one. A must read article.
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
I love it whenever people come together and share views. Great blog, continue the good work.
There is definately a lot to learn about this topic. I really like all of the points you have made.
I like it when people get together and share thoughts. Great blog, continue the good work.
Sugarcoating Protector to my day-to-day routine was just one of the very best choices I’ve made for my health.
I’m careful about what I consume, however this supplement adds an extra layer of
assistance. I feel a lot more stable throughout the day,
and my desires have actually lowered dramatically. It behaves to have
something so simple that makes such a large difference!
Sugarcoating Defender to my daily regimen was one of the very best
decisions I have actually produced my wellness.
I take care concerning what I eat, yet this supplement includes an extra layer
of support. I really feel a lot more consistent throughout the day, and my desires have actually
reduced substantially. It’s nice to have something so easy that
makes such a large distinction!
May I simply say what a relief to discover somebody who really knows what they’re discussing over the internet. You definitely know how to bring a problem to light and make it important. More and more people ought to check this out and understand this side of the story. I was surprised you are not more popular since you most certainly have the gift.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Saved as a favorite, I really like your web site.
You’re so interesting! I do not believe I’ve read through something like this before. So great to discover somebody with a few original thoughts on this subject matter. Really.. many thanks for starting this up. This web site is one thing that is required on the web, someone with a bit of originality.
Hi! Do you know if they make any plugins to assist with Search Engine Optimization? I’m trying to get my blog to rank
for some targeted keywords but I’m not seeing very good gains.
If you know of any please share. Thank you!
I saw similar text here: Eco wool
Your style is really unique in comparison to other folks I have read stuff from. Many thanks for posting when you’ve got the opportunity, Guess I will just book mark this site.
Great site you have here.. It’s hard to find high quality writing like yours these days. I really appreciate people like you! Take care!!
Great web site you have got here.. It’s difficult to find high-quality writing like yours nowadays. I really appreciate individuals like you! Take care!!
You are so interesting! I do not believe I’ve read through anything like this before. So nice to find someone with some genuine thoughts on this subject. Seriously.. thanks for starting this up. This website is one thing that’s needed on the web, someone with a little originality.
Howdy! This article couldn’t be written much better! Looking at this post reminds me of my previous roommate! He always kept talking about this. I’ll forward this post to him. Pretty sure he’ll have a good read. I appreciate you for sharing!
Good day! Do you know if they make any plugins to assist with Search
Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains.
If you know of any please share. Kudos! You can read similar text here: Wool product
This is the right website for anyone who hopes to find out about this topic. You realize a whole lot its almost hard to argue with you (not that I actually would want to…HaHa). You definitely put a fresh spin on a topic that has been written about for decades. Wonderful stuff, just wonderful.
But at present’s straight-to-DVD releases don’t all start out destined for the theaters.
sugar defender reviews
As somebody that’s constantly been cautious about my blood sugar, locating
Sugar Defender has been an alleviation. I really feel a
lot extra in control, and my recent exams have actually revealed
favorable enhancements. Understanding I have a reliable supplement
to support my routine gives me comfort. I’m so thankful for Sugar Protector’s impact on my wellness!
This page definitely has all of the information I wanted concerning this subject and didn’t know who to ask.
I’d like to thank you for the efforts you have put in writing this blog. I am hoping to check out the same high-grade blog posts from you later on as well. In truth, your creative writing abilities has motivated me to get my very own website now 😉
Hello there! This blog post couldn’t be written much better! Looking at this post reminds me of my previous roommate! He constantly kept preaching about this. I am going to send this post to him. Pretty sure he’ll have a very good read. I appreciate you for sharing!
When I initially commented I seem to have clicked on the -Notify me when new comments are added- checkbox and now each time a comment is added I get 4 emails with the exact same comment. There has to be an easy method you are able to remove me from that service? Many thanks.
Great site you have here.. It’s difficult to find high quality writing like yours nowadays. I truly appreciate people like you! Take care!!
Hi there! This post couldn’t be written much better! Looking through this post reminds me of my previous roommate! He always kept preaching about this. I am going to forward this information to him. Pretty sure he’s going to have a very good read. Thanks for sharing!
You should be a part of a contest for one of the greatest blogs on the internet. I most certainly will recommend this website!
I like it when people get together and share opinions. Great blog, continue the good work!
Spot on with this write-up, I seriously feel this website needs far more attention. I’ll probably be back again to see more, thanks for the info!
I was very pleased to discover this page. I wanted to thank you for ones time just for this wonderful read!! I definitely savored every little bit of it and i also have you book marked to check out new information on your site.
Pretty! This was an incredibly wonderful article. Many thanks for supplying this info.
This site was… how do I say it? Relevant!! Finally I’ve found something that helped me. Thank you!
Oh my goodness! Awesome article dude! Thanks, However I am having problems with your RSS. I don’t know the reason why I can’t join it. Is there anyone else having the same RSS issues? Anyone that knows the solution can you kindly respond? Thanx!
Your article helped me a lot, is there any more related content? Thanks!
I like it when people come together and share views. Great site, keep it up.
May I just say what a comfort to uncover a person that really understands what they are discussing on the web. You certainly realize how to bring an issue to light and make it important. More people really need to look at this and understand this side of your story. It’s surprising you’re not more popular because you certainly possess the gift.
Greetings, There’s no doubt that your web site could possibly be having internet browser compatibility issues. When I take a look at your website in Safari, it looks fine however, if opening in I.E., it’s got some overlapping issues. I just wanted to give you a quick heads up! Besides that, excellent blog.
This is a topic which is close to my heart… Thank you! Where can I find the contact details for questions?
Excellent site you have here.. It’s difficult to find high quality writing like yours these days. I really appreciate individuals like you! Take care!!
I really like it whenever people come together and share thoughts. Great website, continue the good work!
Howdy! I could have sworn I’ve visited your blog before but after going through some of the posts I realized it’s new to me. Nonetheless, I’m definitely happy I came across it and I’ll be book-marking it and checking back frequently!
May I simply say what a relief to find somebody that truly knows what they are talking about over the internet. You certainly realize how to bring an issue to light and make it important. More people need to read this and understand this side of the story. It’s surprising you are not more popular since you definitely have the gift.
This blog was… how do you say it? Relevant!! Finally I have found something which helped me. Kudos.
This site was… how do you say it? Relevant!! Finally I have found something which helped me. Thanks!
An outstanding share! I’ve just forwarded this onto a friend who has been conducting a little homework on this. And he actually bought me breakfast due to the fact that I discovered it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanks for spending the time to talk about this topic here on your web page.
I would like to thank you for the efforts you’ve put in writing this website. I really hope to view the same high-grade content from you in the future as well. In fact, your creative writing abilities has motivated me to get my own, personal blog now 😉
Greetings! Very useful advice in this particular post! It’s the little changes which will make the greatest changes. Thanks a lot for sharing!
Way cool! Some very valid points! I appreciate you writing this write-up plus the rest of the site is also really good.
Hi there! I simply would like to offer you a big thumbs up for the great info you’ve got here on this post. I will be coming back to your website for more soon.
I’m very happy to find this site. I need to to thank you for your time due to this fantastic read!! I definitely liked every little bit of it and i also have you saved as a favorite to look at new stuff on your site.
I like it whenever people get together and share views. Great site, stick with it.
Your style is so unique compared to other folks I’ve read stuff from. I appreciate you for posting when you’ve got the opportunity, Guess I will just bookmark this site.
Right here is the perfect web site for everyone who wants to find out about this topic. You realize so much its almost hard to argue with you (not that I really will need to…HaHa). You definitely put a brand new spin on a topic that’s been written about for years. Wonderful stuff, just excellent.
Now learn the degree mark that the index line crosses.
Excellent site you have here.. It’s hard to find high-quality writing like yours nowadays. I honestly appreciate people like you! Take care!!
After looking at a number of the articles on your site, I honestly appreciate your technique of blogging. I bookmarked it to my bookmark webpage list and will be checking back soon. Please check out my website too and let me know what you think.
Having read this I believed it was really informative. I appreciate you taking the time and effort to put this informative article together. I once again find myself spending way too much time both reading and commenting. But so what, it was still worthwhile.
I want to to thank you for this very good read!! I definitely enjoyed every bit of it. I have got you book marked to check out new stuff you post…
Spot on with this write-up, I really believe that this amazing site needs far more attention. I’ll probably be returning to see more, thanks for the info.
Very good post. I am experiencing some of these issues as well..
Chew lived and practiced law in Heart Metropolis Philadelphia, 4 blocks from the Pennsylvania State House, later renamed Independence Hall, and provided pro bono authorized counsel on substantive law to America’s Founding Fathers during their creation of the United States Constitution and Invoice of Rights.
After looking at a number of the articles on your web site, I honestly appreciate your way of writing a blog. I added it to my bookmark website list and will be checking back soon. Please visit my website as well and let me know how you feel.
Halloween Horror Nights 15 in 2005 ran 19 nights, had seven haunted houses, and an admission of $59.75.
Carlsen won 9 Elo ranking points and retained his primary position on the FIDE score record, whereas Nepomniachtchi misplaced 9 factors and remained fifth.
Everyone loves it whenever people come together and share thoughts. Great website, keep it up.
I would like to thank you for the efforts you have put in penning this site. I’m hoping to see the same high-grade content from you later on as well. In truth, your creative writing abilities has encouraged me to get my own, personal blog now 😉
I couldn’t refrain from commenting. Very well written.
Oh my goodness! Awesome article dude! Many thanks, However I am encountering issues with your RSS. I don’t know why I cannot join it. Is there anyone else having the same RSS issues? Anyone who knows the answer will you kindly respond? Thanx!!
bookmarked!!, I like your web site!
Hello there, I do think your website could be having web browser compatibility problems. Whenever I take a look at your blog in Safari, it looks fine however, if opening in I.E., it’s got some overlapping issues. I simply wanted to give you a quick heads up! Other than that, wonderful site!
I couldn’t refrain from commenting. Perfectly written.
You ought to be a part of a contest for one of the highest quality sites online. I’m going to highly recommend this blog!
This is a topic that is near to my heart… Many thanks! Exactly where can I find the contact details for questions?
Pretty! This was a really wonderful post. Thanks for supplying these details.
I want to to thank you for this great read!! I certainly loved every bit of it. I have got you bookmarked to look at new things you post…
This excellent website definitely has all of the information I wanted about this subject and didn’t know who to ask.
This blog was… how do I say it? Relevant!! Finally I’ve found something which helped me. Cheers.
An interesting discussion is worth comment. I do think that you ought to write more about this subject matter, it might not be a taboo subject but typically people do not speak about these subjects. To the next! Many thanks.
I was able to find good info from your articles.
This site was… how do I say it? Relevant!! Finally I’ve found something which helped me. Thanks a lot!
Aw, this was an exceptionally nice post. Spending some time and actual effort to generate a really good article… but what can I say… I procrastinate a lot and don’t manage to get nearly anything done.
I could not resist commenting. Perfectly written!
This is a topic which is near to my heart… Thank you! Exactly where can I find the contact details for questions?
Your style is really unique in comparison to other folks I’ve read stuff from. Thanks for posting when you have the opportunity, Guess I will just book mark this blog.
Everything is very open with a precise clarification of the challenges. It was definitely informative. Your website is very useful. Thank you for sharing!
Beginning round 2013, Fb spent years ignoring desperate warnings from consultants in Myanmar and world wide, kept its foot on the algorithmic accelerator, and played what the UN called “a determining role” in the genocide of the Rohingya folks.
Hi there, I believe your website could possibly be having browser compatibility issues. When I look at your website in Safari, it looks fine however, when opening in IE, it’s got some overlapping issues. I merely wanted to provide you with a quick heads up! Other than that, great site.
Savage Opress was a Dathomirian Zabrak Sith Shadow Hand first skilled underneath Darth Tyranus (Count Dooku) and later beneath his personal brother, Darth Maul, as well as a major antagonist in Star Wars: The Clone Wars.
That is a good tip particularly to those new to the blogosphere. Brief but very precise info… Appreciate your sharing this one. A must read article!
These fibres are woven collectively right into a cloth and left to set in a plastic resin.
After I originally left a comment I appear to have clicked the -Notify me when new comments are added- checkbox and now whenever a comment is added I recieve four emails with the exact same comment. Is there a way you can remove me from that service? Thanks.
Jennings, Louisiana requires all homeowners to carry liability protection that meets or exceeds the following limits: $15,000 bodily damage per person/ $30,000 whole bodily injury per accident; and $7,500 property injury protection per accident.
Hi there! This post could not be written any better! Going through this post reminds me of my previous roommate! He constantly kept talking about this. I most certainly will send this post to him. Pretty sure he’ll have a great read. Many thanks for sharing!
The present of gold to the Christ Baby is alleged to have come from Melchior, a king from Arabia, who, legend has it, was one of the Three Clever Men.
Howdy! This article couldn’t be written much better! Looking through this article reminds me of my previous roommate! He continually kept preaching about this. I am going to send this post to him. Fairly certain he will have a good read. Many thanks for sharing!
27 September 1978: Nottingham Forest knock holders Liverpool out of the European Cup in the primary spherical after completing a 2-zero aggregate success with a goalless draw at Anfield.
Way cool! Some very valid points! I appreciate you writing this article plus the rest of the site is also very good.
Letters from the Prisons and Prison-ships of the Revolution.
You have made some good points there. I looked on the net for additional information about the issue and found most people will go along with your views on this website.
Next time I read a blog, Hopefully it does not disappoint me just as much as this one. After all, Yes, it was my choice to read, but I actually believed you would probably have something helpful to say. All I hear is a bunch of crying about something that you can fix if you weren’t too busy searching for attention.
Saved as a favorite, I really like your website.
This is a topic which is near to my heart… Thank you! Exactly where are your contact details though?
This is a really good tip especially to those fresh to the blogosphere. Simple but very precise information… Many thanks for sharing this one. A must read article!
You’ve made some decent points there. I checked on the internet for more information about the issue and found most people will go along with your views on this site.
Spot on with this write-up, I honestly believe this web site needs a lot more attention. I’ll probably be returning to read through more, thanks for the info!
I really love your site.. Very nice colors & theme. Did you build this amazing site yourself? Please reply back as I’m wanting to create my very own site and would like to find out where you got this from or just what the theme is named. Appreciate it!
I blog frequently and I truly appreciate your information. This article has really peaked my interest. I will bookmark your blog and keep checking for new details about once a week. I subscribed to your RSS feed too.
Bush, Bill (August 31, 2021).
Everything is very open with a really clear clarification of the challenges. It was definitely informative. Your website is very helpful. Thanks for sharing!
Great information. Lucky me I found your site by chance (stumbleupon). I’ve book-marked it for later!
An impressive share! I have just forwarded this onto a friend who has been conducting a little homework on this. And he actually bought me breakfast due to the fact that I stumbled upon it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanx for spending time to discuss this subject here on your site.
Vice-President of Operations at Lebanon Valley Household Well being Companies.
You are so interesting! I don’t suppose I’ve truly read through a single thing like that before. So wonderful to discover someone with genuine thoughts on this issue. Seriously.. thanks for starting this up. This web site is something that is needed on the internet, someone with some originality.
Oh my goodness! Awesome article dude! Thank you, However I am experiencing issues with your RSS. I don’t understand the reason why I can’t subscribe to it. Is there anybody having the same RSS problems? Anybody who knows the answer can you kindly respond? Thanks.
Your article helped me a lot, is there any more related content? Thanks! https://accounts.binance.com/zh-TC/register?ref=VDVEQ78S
The leap was the longest natural jump in Canada, and worldwide information have been set there.
I couldn’t resist commenting. Perfectly written.
A fascinating discussion is definitely worth comment. I do believe that you need to write more about this subject matter, it might not be a taboo matter but generally folks don’t discuss such subjects. To the next! All the best.
Obesity could be a critical health risk to your Frenchie; please see FRENCH BULLDOGS WEIGHT.
I was more than happy to find this great site. I wanted to thank you for ones time for this wonderful read!! I definitely enjoyed every little bit of it and i also have you saved as a favorite to look at new stuff in your website.
Hi! I just want to give you a big thumbs up for your excellent information you’ve got here on this post. I will be coming back to your website for more soon.
I’m impressed, I must say. Rarely do I come across a blog that’s both equally educative and interesting, and let me tell you, you have hit the nail on the head. The issue is something which not enough men and women are speaking intelligently about. I’m very happy I stumbled across this during my search for something regarding this.
I couldn’t refrain from commenting. Exceptionally well written!
This is a really good tip especially to those fresh to the blogosphere. Short but very precise info… Thanks for sharing this one. A must read article!
This suggests that determinism is at backside nothing more than the inflation of a psychological problem the persistent inferiority complex of our race, which has sought in innumerable fata morganas the security and stability that life unfortunately does not provide.
You made some really good points there. I looked on the web for more information about the issue and found most individuals will go along with your views on this web site.
I couldn’t resist commenting. Very well written!
A cruel messenger shall be sent in opposition to him.
This is a topic that is close to my heart… Take care! Exactly where are your contact details though?
Pretty! This has been a really wonderful article. Thank you for supplying this info.