{"id":631652,"date":"2018-03-25T04:11:26","date_gmt":"2018-03-25T04:11:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/25\/halan-a-ridesharing-app-for-tuktuks-and-motorcycles-closes-in-on-usd-2-mn-fundraising-round\/"},"modified":"2018-03-25T04:11:26","modified_gmt":"2018-03-25T04:11:26","slug":"halan-a-ridesharing-app-for-tuktuks-and-motorcycles-closes-in-on-usd-2-mn-fundraising-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/25\/halan-a-ridesharing-app-for-tuktuks-and-motorcycles-closes-in-on-usd-2-mn-fundraising-round\/","title":{"rendered":"Halan, a ridesharing app for tuktuks and motorcycles, closes in on USD 2 mn fundraising round"},"content":{"rendered":"

<\/a> EXCLUSIVE- Egypt\u2019s \u201cUber for motorcycles\u201d closes in on USD 2 mn pre-series \u2018A\u2019 fundraising round:<\/strong> Halan, the Cairo-based ride-sharing app targeting motorcycle and tuktuk owners that we first noted back in January<\/a>, has already raised more than 75% of the USD 2 mn it is looking to land for its pre-series \u2018A.\u2019\u2019 Existing investors have committed to the round, as have Western venture capital firms that follow the ride-sharing space globally, we\u2019re told. Speaking this weekend, Halan CEO Mounir Nakhla declined to confirm the 75% figure or to name the investors with whom the startup is in talks, saying only, \u201cInterest is really strong. We\u2019re well on our way to our goal of closing a pre-series \u2018A\u2019 with both financial and potentially strategic investors participating.\u201d The previously disclosed USD 2 mn seed round for the personal assistant service Elves<\/a> currently stands as the largest pre-Series \u2018A\u2019 round raised in Egypt.<\/p>\n

Who\u2019s already in?<\/strong> Investors from Silicon Valley and Singapore, in addition to strategic investors, Nakhla says.<\/p>\n

Halan, just three months from it\u2019s first ride, is doing \u201cfour figures\u201d worth of rides every day<\/strong>, says Chief Marketing Officer Dina Ghabbour. Halan has already rolled out a national advertising campaign (watch, runtime: 0:59<\/a> \u2014 we\u2019re not responsible for damage to your eardrums) and outdoor ads in test zones in the Greater Cairo Area. The Halan app<\/a> has been downloaded more than 100k times for Android since the company launched late November. Ghabbour says they\u2019re launching an iOS app in April. The company is on Facebook here<\/a>.<\/p>\n

What\u2019s a ride on the back of a motorcycle cost, anyway?<\/strong> The 7 km hop from Faisal to Moneeb costs EGP 13.50 and takes 20 minutes on a motorcycle compared with EGP 20 for an hour long taxi ride, according to figures made available by Halan. Two- and three-wheelers are also 2-4x more fuel efficient than cars over the same distance, with fuel efficiency and cost advantages generally going up with the distance traveled until you leave an urban or peri-urban area.<\/p>\n

The ability to meet fast-rising user demand will be key for Halan as it looks to leapfrog potential competition<\/strong> from existing players Uber and Careem. The startup already has a head start: Love them or hate them, tuktuks are ubiquitous from the Mediterranean coast to the farthest reaches of Upper Egypt. Nakhla is the man readers can thank for That: As the co-founder of Mashroey, Egypt\u2019s largest light-transport financing business, he runs more than 100 branches nationwide and has over 40k active customers, the vast majority of them having financed their purchase of motorcycles or three-wheelers through the firm. He also founded Tasaheel, a pure microfinance player that has more than 100 additional branches and more than 350k clients across the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- Egypt\u2019s \u201cUber for motorcycles\u201d closes in on USD 2 mn pre-series \u2018A\u2019 fundraising round: Halan, the Cairo-based ride-sharing app targeting motorcycle and tuktuk owners that we first noted back in January, has already raised more than 75% of the USD 2 mn it is looking to land for its pre-series \u2018A.\u2019\u2019 Existing investors have […]<\/p>\n","protected":false},"author":1,"featured_media":631653,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-631652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4a75a5ae-966a-4fec-b587-c1d0ee319fc1","order":"0","is_powered_by":true,"section_story_id":"db97e7c8-566e-479e-89e4-c3f1616fd789","story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/118.jpg","photo_position":"above","related_issue":[631644],"teaser":"","voice_url":""},"yoast_head":"\nHalan, a ridesharing app for tuktuks and motorcycles, closes in on USD 2 mn fundraising round - 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The company did not disclose the size of the round. Halan had previously said it was closing\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567558,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/27\/has-halan-raised-usd-15-mn-in-its-series-b-funding-round\/","url_meta":{"origin":631652,"position":1},"title":"Has Halan raised USD 15 mn in its series B funding round?","author":"enterpriseam admin","date":"27 January 2020","format":false,"excerpt":"STARTUP WATCH- Ride-hailing app Halan has raised USD 15 mn in its series B funding round, according to estimations made by Menabytes. The tech news site came to this conclusion after CEO Mounir Nakhla told Wired that the company has raised USD 20 mn to date. Given that we know\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595270,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypts-halan-to-launch-in-ethiopia-before-the-end-of-2019\/","url_meta":{"origin":631652,"position":2},"title":"Egypt\u2019s Halan to launch in Ethiopia before the end of 2019","author":"enterpriseam admin","date":"22 September 2019","format":false,"excerpt":"STARTUP WATCH- Halan to launch in Ethiopia this year: Cairo-based tuk-tuk and motorcycle ride-hailing startup Halan plans to begin operations in Ethiopia before the end of 2019,CEO and founder Mounir Nakhla told Reuters. The company is set to begin operations in Adama, some 150 km away from the capital city\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","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":631652,"position":3},"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":579327,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment\/","url_meta":{"origin":631652,"position":4},"title":"MNT-Halan on its way to unicorn status with major Chimera investment","author":"enterpriseam admin","date":"2 February 2023","format":false,"excerpt":"IFC is also intending to invest USD 40 mn in MNT-Halan","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\/2023\/2\/35.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":631652,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/631652","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=631652"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/631652\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/631644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/631653"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=631652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=631652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=631652"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=631652"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=631652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}