The Egyptian fintech unicorn strengthens its debt funding model with a $71.4M issuance under an $8B securitisation program.
Egyptian fintech unicorn MNT-Halan has raised $71.4 million (EGP 3.4 billion) through its seventh securitised bond issuance, reinforcing its reliance on debt financing to fund continued lending growth.
The transaction is part of an EGP 8 billion (USD 168 million) securitisation programme approved by Egypt’s Financial Regulatory Authority (FRA). It was jointly managed by Commercial International Bank (CIB) and CI Capital, with the bonds divided into five tranches rated by Middle East Rating & Investor Services (MERIS), offering investors a diversified mix of risk and maturity profiles.
Founded in 2018 by Mounir Nakhla and Ahmed Mohsen, MNT-Halan provides digital and physical financial services, including business and consumer loans, prepaid cards, e-wallets, investments, and e-commerce solutions through its Halan app.
Securitisation has become a key pillar of MNT-Halan’s funding model. By converting loans into investable assets, the fintech can unlock immediate liquidity to issue new loans and scale its portfolio — all without diluting equity.
“The success of our latest issuance highlights continued investor confidence in the quality of our loan book and servicing performance” ~ Mounir Nakhla, founder and CEO of MNT-Halan.
To date, the company has disbursed over $11 billion in loans and serves more than 8 million customers globally. Earlier this year, MNT-Halan completed a $49 million corporate bond and previously raised $200 million in equity in 2023, underscoring a balanced mix of debt and equity financing.
As Egypt’s fintech ecosystem matures, MNT-Halan’s repeatable securitisation strategy has positioned it as a leader in sustainable debt-led growth, offering a roadmap for other fintech lenders navigating the country’s evolving credit markets.