MNT-Halan enters the Turkish market: Fintech leader MNT-Halan has fully acquired Turkish commercial finance company Tam Finans from Actera Group, according to a press release (pdf). The company did not disclose the terms of the transaction.

The upside: Tam Finans’ over USD 300 mn loan book provides MNT-Halan with a significant foothold in a market with 85 mn consumers and a low household debt-to-GDP ratio, offering significant growth potential for digital financial services in the coming period.

The plan: MNT aims to combine “Tam Finans’ credit models, distribution capabilities, and management team with MNT Halan’s technology, customer-facing app, and financial muscle” in order to “complete the product offering and give greater confidence to all its stakeholders,” MNT-Halan founder and CEO Mounir Nakhla said.

ICYMI: MNT-Halan recently raised USD 157.7 mn in a funding round expected to bankroll the country’s international expansion plans. “While Egypt remains our primary market, we are committed to revolutionizing access to financial services through technology beyond Egypt’s borders,” Nakhla said at the time.

MNT’s second big buy this year: MNT-Halan acquired Pakistani microfinance firm AdvansPakistan MicrofinanceBank back in March.

Advisors: Maatouk Bassiouny & Hennawy, Esin Attorney Partnership, and Van Campen Liem were MNT’s legal advisors. Clifford Chance was the seller’s legal advisor. PwC was financial and commercial advisors to the buyer and Boston Consulting Group (BCG) was financial and commercial advisors to the seller.

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