MNT-Halan raises funds for international expansion: Fintech leader MNT-Halan has raised USD 157.7 mn in a funding round that will contribute to the company’s international expansion plans, the company said in a press release (pdf).

The details: The fresh funding includes USD 40 mn from the International Finance Corporation, with the rest coming from repeat investors including our friends at private equity firm Development Partners International (DPI), Egypt-focused investment firm Lorax Capital Partners, funds managed by Apis Partners, Lunate, and GB Corp.

Focusing on Egypt but aiming beyond: The company plans to channel these new funds into plans to expand into international markets, following on from MNT-Halan’s acquisition of Pakistani microfinance firm Advans Pakistan Microfinance Bank in March. “While Egypt remains our primary market, we are committed to revolutionizing access to financial services through technology beyond Egypt’s borders,” founder and CEO Mounir Nakhla said.

Remember: MNT-Halan raised USD 400 mn in its last funding round in 2023 — our friends at Abu Dhabi-based Chimera Investments invested some USD 200 mn in the firm in a transaction that saw it acquire a 20% stake in MNT-Halan. The fintech firm raised USD 120 mn in 2021.

Advisors: Maatouk Bassiouny & Hennawy and Van Campen Liem served as legal advisors to MNT-Halan, while Hogan Lovells, Freshfields, and Gibson Dunn provided legal counsel to the subscribers. Arqaam Capital served as financial advisor to GB Corp.

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