{"id":579327,"date":"2023-02-02T04:08:31","date_gmt":"2023-02-02T04:08:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment\/"},"modified":"2023-02-02T04:08:31","modified_gmt":"2023-02-02T04:08:31","slug":"mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment\/","title":{"rendered":"MNT-Halan on its way to unicorn status with major Chimera investment"},"content":{"rendered":"

<\/a> Our friends at Abu Dhabi-<\/strong>based Chi<\/strong>mera Investments will acquire 20% of Egyptian <\/strong>sup<\/strong>er app <\/strong>MNT-Halan<\/strong> after investing USD 200 mn in the firm, according to a statement (<\/a>pdf<\/a>)<\/a> out yesterday. The company is also in talks with international investors to raise another USD 60 mn in primary capital, MNT-Halan said.<\/p>\n

Unicorn status:<\/strong> The new investments put the company on track for a valuation of more than USD 1 bn. Reuters<\/a> also had the story.<\/p>\n

We know one of the investors in talks: <\/strong>The International Finance Corporation (IFC) is intending to invest USD 40 mn in the company, pending approval, according to the lender\u2019s website<\/a>. The IFC is expected to make a final decision on the investment on 9 April.<\/p>\n

If that\u2019s not enough:<\/strong> MNT-Halan also announced completion of two securitizations totaling USD 140 mn through its subsidiaries Tasaheel Microfinance Company (Tasaheel) and Halan Consumer Finance (Halan), with the CIB. Tasaheel closed a USD 100 mn issuance backed by its loan book on Tuesday, an MNT-Halan representative told Enterprise \u2014 following its USD 150 mn issuance<\/a> in June last year. Halan raised USD 40 mn by securitizing its loan book several weeks ago, marking its first securitization, the representative added.<\/p>\n

More to come:<\/strong> At this point, MNT-Halan has the capacity to further securitize up to USD 250 mn, the company said \u2014 less than the original USD 600 mn<\/a> securitization program it announced in June. The re-cast is due to fluctuations in the EGP exchange rate, a company representative told Enterprise.<\/p>\n

Advisors: <\/strong>White & Case, Shearman and Sterling, Lexence, and Matouk Bassiouny & Hennawy all served as legal advisors on the investments. Arqaam Capital served as advisors to GB Auto on the transaction. CIB served as the sole financial advisor, general arranger, underwriter and custodian of the securitizations with National Bank of Egypt serving as underwriter. Matouk Bassiouny & Hennawy served as legal advisors for the securitization. Eterna Partners served as communications advisors.<\/p>\n

Global and regional investors have been keen on MNT-Halan for a while:<\/strong> The company raised USD 120 mn<\/a> in 2021 from international investors. Development Partners International, Apis, and Lorax Capital Partners all participated in the round.<\/p>\n

REFRESHER\u2013<\/strong> MNT-Halan came into existence in 2021, after Netherlands-based payments company MNT, the parent company of asset-based lender Mashroey<\/a> and microfinance player Tasaheel<\/a>, entered into a share swap agreement<\/a>with Egyptian fintech \/ delivery \/ ride-hailing company Halan to create super-app MNT-Halan.<\/p>\n

EDITOR'S NOTE- This story was updated on 2 February, 2023 to correct advisor roles.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

IFC is also intending to invest USD 40 mn in MNT-Halan<\/p>\n","protected":false},"author":1,"featured_media":579328,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[2078,7106,72,183,759,125,7128,310,85,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-579327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-chimera-investments","tag-debt","tag-enterpriseam","tag-fintech","tag-international-finance-corporation","tag-investment-watch","tag-ma-watch","tag-mnt-halan","tag-securitization","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"dae5257a-b238-45fc-9bc1-e1775e7608cc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/35.jpg","photo_position":"above","related_issue":[579316],"teaser":"IFC is also intending to invest USD 40 mn in MNT-Halan"},"yoast_head":"\nMNT-Halan on its way to unicorn status with major Chimera investment - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MNT-Halan on its way to unicorn status with major Chimera investment\" \/>\n<meta property=\"og:description\" content=\"IFC is also intending to invest USD 40 mn in MNT-Halan\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" 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which is majority-owned by GB Auto subsidiary GB Capital \u2014 agreed to sell a 21.7% stake to a unit of Chimera Investments, GB Auto said in an EGX disclosure (pdf) on Thursday.The sellers: GB Auto is selling a 7.5%\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/370.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577379,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/gb-auto-okays-mnt-stake-sale-after-accepting-fair-value-study\/","url_meta":{"origin":579327,"position":1},"title":"GB Auto okays MNT stake sale after accepting fair value study","author":"enterpriseam admin","date":"21 November 2022","format":false,"excerpt":"GB Auto approves MNT stake sale: GB Auto\u2019s board has greenlit plans to sell a 7.5% stake in MNT Investments to Abu Dhabi-based investment firm Chimera Investments after approving the results of a fair value study (pdf), it said in an EGX disclosure (pdf) yesterday.ICYMI- The Netherlands-incorporated fintech \u2014 majority-owned\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/319.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":633771,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/21\/mnt-halan-raises-usd-157-7-mn-from-international-investors\/","url_meta":{"origin":579327,"position":2},"title":"MNT-Halan raises USD 157.7 mn from international investors","author":"enterpriseam admin","date":"21 July 2024","format":false,"excerpt":"The funding round saw participation from the IFC, DPI and Lorax Capital Partners","rel":"","context":"In "Fintech"","block_context":{"text":"Fintech","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/fintech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1524.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557186,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/09\/mnt-halan-announces-blockbuster-usd-120-mn-fintech-round\/","url_meta":{"origin":579327,"position":3},"title":"MNT-Halan announces blockbuster USD 120 mn fintech round","author":"enterpriseam admin","date":"9 September 2021","format":false,"excerpt":"MNT-Halan has closed what we believe is the largest fintech round ever to take place in MENA, raising c. USD 120 mn from a group of investors that includes financial services-focused PE house Apis, the UK\u2019s Development Partners International (DPI) and Lorax Capital Partners, the group said in a statement.\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547490,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/23\/mnt-halan-acquires-talabeyah\/","url_meta":{"origin":579327,"position":4},"title":"MNT\u2013Halan acquires Talabeyah","author":"enterpriseam admin","date":"23 June 2022","format":false,"excerpt":"This super app just became more super: MNT\u2013Halan has acquired Cairo-based B2B e-commerce platform Talabeyah for an undisclosed amount, according to a statement (pdf).About Talabeyah: Launched in January 2020 by Karim Nassef (LinkedIn), Amr Abbas (LinkedIn), and Khaled Hussein (LinkedIn), the company provides next-day delivery to small merchants and retailers,\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/286.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563261,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/24\/egypt-gets-its-own-super-app\/","url_meta":{"origin":579327,"position":5},"title":"Egypt gets its own \u201csuper app\u201d","author":"enterpriseam admin","date":"24 June 2021","format":false,"excerpt":"MNT merges with Halan in share swap: Netherlands-based payments company MNT has entered into a share swap agreement with fintech \/ delivery \/ ride-hailing company Halan, it announced in a statement (pdf) yesterday. The combined entity \u2014 MNT-Halan \u2014 is positioning itself as Egypt\u2019s first \u201csuper app\u201d that will combine\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/310.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=579327"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579327\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/579316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/579328"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=579327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=579327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=579327"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=579327"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=579327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}