Cairo, Egypt: MNT-Hala, the first billion-dollar fintech company (unicorn) in Egypt and the Middle East, announced the successful completion of the first closing of an investment round led by Al Ahli Capital, the investment arm of the National Bank of Egypt. This marks a significant milestone for the company and for the non-banking financial services and fintech sector in Egypt. The closing followed the receipt of all necessary approvals from relevant authorities and regulatory bodies. A second closing within this investment round is currently underway, but details of the transaction have not yet been disclosed .

The deal raises MNT-Hala's valuation to US$1.4 billion, solidifying its position as one of the region's leading fintech platforms and reflecting investor confidence in the company's long-term growth strategy and market leadership. MNT-Hala will allocate the majority of the proceeds to expanding its operations within the Egyptian market, while also supporting its regional expansion plans.

It is worth noting that over the past years, MNT-Hala has succeeded in establishing itself as one of the largest non-banking financial institutions operating in Egypt and Turkey, in addition to acquiring a bank specializing in financing small and micro enterprises in Pakistan, and launching its operations in the United Arab Emirates in 2024, with plans to continue expanding and entering new markets in the Arabian Gulf region .

This investment underscores the ongoing collaboration between banking financial institutions, the non-banking financial services sector, and financial technology, indicating growing institutional confidence in the vital role the sector plays in promoting financial inclusion and driving economic growth in Egypt.

This transaction aligns with Al Ahli Capital's strategy of investing in leading, high-growth companies, with MNT-Hala being one of the region's most prominent fintech platforms. This investment underscores Al Ahli Capital's commitment to supporting companies that contribute to expanding financial services and driving economic development .

This sector is currently witnessing increasing support from regulatory bodies, as part of their efforts to accelerate the pace of digital transformation and expand the base of beneficiaries of financial and banking services, in order to ensure that they are made available more efficiently and securely .

Mounir Nakhla, founder and chairman of MNT-Hala, said: “I am very pleased to have Al Ahli Capital, the investment arm of the largest bank in Egypt, join the company’s shareholders. Over the past years, we have collaborated with more than 30 Egyptian and regional banks and financing entities, but this is the first time that a national banking institution has become an equity partner in the company, which makes this step a very important milestone in our journey. Together, we are able to redefine the concept of access to financial services at a time when traditional systems still face challenges in serving individuals, owners of small and micro enterprises, as well as reaching citizens in cities and villages across the country .”

Nakhla added: “Over the past years, we have contributed to supporting more than 4 million individuals and business owners to develop their projects and meet their families’ financial needs, enabling them to own their first smartphones and join the digital world. We have also provided financing for various types of vehicles, whether for commercial or personal use. This investment reflects confidence in the company and is evidence of the strong relationship between the banking sector and the non-banking financial services sector .”

Karim Saadah, CEO and Managing Director of Al Ahli Capital, said: “We at Al Ahli Capital are delighted to complete this investment in MNT-Hala, which reflects our confidence in the company’s ability to continue growing regionally, the efficiency of its management team, and its ability to implement an ambitious vision that has achieved tangible success on the ground. Over the past years, MNT-Hala has established itself as one of the leading financial technology and non-banking financial services platforms in the region, and has succeeded in building an integrated and diversified ecosystem that serves millions of customers and contributes to bridging fundamental gaps in the field of financial inclusion . ”

His Excellency added: “Al Ahli Capital has always believed in the pivotal role of non-banking financial services in meeting the needs of the unbanked or underserved segments of the population, and in their importance as a key driver of sustainable economic growth in emerging markets. Therefore, this sector remains a key focus of our investment strategy. This investment aligns with our approach of partnering with leading companies in their respective sectors, companies that combine strong operational foundations, scalability, and the ability to deliver a positive economic and social impact. We are proud to join a select group of local and international investors in MNT-Hala and look forward to supporting the company in its next phase of growth. We believe that MNT-Hala possesses the strong potential to capitalize on promising opportunities in Egypt and the region, and we look forward to being part of its success story and development journey in the coming years . ”

Maatouk Bassiouni & Hannawi acted as legal advisor, and Al Ahli Pharos acted as financial advisor for MNT-Hala, while Van Campen Liem acted as legal advisor, and Baker Tilly acted as financial and tax advisor for Al Ahli Capital .

About MNT-Hala

MNT-Hala, the first billion-dollar fintech unicorn in Egypt and the MENA region, was founded in 2018 with the aim of improving people's lives by revolutionizing access to financial services through technology. The company provides financing for individuals and businesses, prepaid cards, an e-wallet, and investment and e-commerce services through its Hala app and extensive local presence. Since its inception, MNT-Hala has facilitated over $15.5 billion in financing and served more than 8 million customers worldwide. It also boasts over 2.3 million quarterly active customers globally, and the Hala app has been downloaded more than 10 million times, reflecting the growing demand for its expanding suite of services and the success of the Hala card.

In Egypt, MNT-Hala is one of the most comprehensive fintech platforms in terms of licensing, holding microfinance, nanofinance, SME, and consumer finance licenses, as well as a license from the Egyptian Financial Regulatory Authority to receive and redeem investment fund units. It also holds the first independent e-wallet license from the Central Bank of Egypt for digitally disbursing, collecting, and transferring funds via mobile applications, and a prepaid card license. Internationally, MNT-Hala operates in Turkey through Tam Finans, a leading trade finance company licensed by the Banking Regulation and Supervision Agency (BRSA). The company also operates in Pakistan through Halan Microfinance Bank, regulated by the State Bank of Pakistan (SBP), and holds a license for nationwide expansion. MNT-Hala has also expanded its operations to the UAE, offering fintech solutions fully compliant with regulations issued by the Central Bank of the UAE.

MNT-Hala has garnered widespread recognition for its innovation and impact on the sector, receiving the "Most Innovative Fintech Company in the Middle East and Africa" award from Global Finance magazine for three consecutive years. The Financial Times also listed it among Africa's fastest-growing companies for three consecutive years, and Forbes Middle East selected it as one of the top 50 fintech companies in the region. Furthermore, one of the group's subsidiaries in Egypt received the Bronze "Responsible Finance" certification from the global rating agency MFR, in accordance with the Cerise + SPTF framework, in addition to ISO/IEC 27001 certification, reflecting its commitment to the highest international standards in data protection, risk management, and compliance.

About Al Ahli Capital:

Al Ahli Capital is a leading financial services company built on a gradual and well-considered expansion strategy since its establishment in 2008. From its inception as a private equity firm targeting high-growth sectors of the Egyptian economy, Al Ahli Capital has evolved into a comprehensive financial platform offering a full range of financial services. Today, it operates through three interconnected pillars: private equity, capital markets, and non-banking financial services. With assets under management exceeding US$2.5 billion, Al Ahli Capital has established a proven track record of success by generating exclusive investment opportunities and achieving exceptional returns across various sectors.

Through its diversified portfolio of investments and subsidiaries, Al Ahli Capital offers a wide range of financial solutions, including direct investment, investment banking, securities brokerage, asset management, securitization, non-banking finance, payment services, and other financial services. The group's strategy is based on building an integrated and interconnected financial ecosystem that complements the National Bank of Egypt's banking platform, while expanding access to innovative financial solutions in Egypt and the region.

Enhancing financial inclusion and developing non-banking financial services are cornerstones of Al Ahli Capital’s long-term vision. Through its non-banking financial services platform, Al Ahli Capital has successfully established a strong presence in finance, payments, and digital financial services, serving underserved individuals and businesses, supporting economic growth, and promoting financial empowerment. Building on the established position, institutional strength, and rich heritage of the National Bank of Egypt, Al Ahli Capital continues to invest in promising, high-growth sectors, partner with exceptional management teams, and create sustainable, long-term value for all its clients.

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