Egyptian fintech MNT-Halan has reached a $1.4 billion valuation after completing the first closing of a new investment round led by Al Ahly Capital, the investment arm of the National Bank of Egypt.
The companies did not disclose the amount invested. A second closing is expected as part of the ongoing round.
MNT-Halan said it will use most of the proceeds to expand its operations in Egypt and support its regional expansion, including plans to enter additional Gulf markets.
The investment makes Al Ahly Capital an equity shareholder in MNT-Halan, marking the first time a commercial bank has taken a stake in the fintech. The company said it has previously partnered with more than 30 Egyptian banks and financial institutions.
Founded by Mounir Nakhla, MNT-Halan has grown into one of the region’s largest fintech and non-bank financial services platforms, with operations in Egypt and Türkiye. It also owns a specialised bank serving micro and small businesses in Pakistan and has operated in the UAE since 2024.
The company says it has served more than 4 million individuals and business owners, providing financing for smartphones, commercial and personal vehicles and other financial needs.
The investment strengthens ties between Egypt’s banking and non-bank financial services sectors as regulators push digitalisation and broader access to financial services.
For Al Ahly Capital, the investment is part of its private equity strategy of backing high-growth businesses in sectors that support financial inclusion and economic development.
MNT-Halan was previously valued at $1 billion in 2023, when it raised $150 million from investors including Chimera Abu Dhabi and the International Finance Corporation.