MNT-Halan has hit a $1.4 billion valuation after Al Ahly Capital, tied to the National Bank of Egypt, took its first equity stake in the fintech.
MNT-Halan hit $1.4B valuation with National Bank of Egypt backing $30M equity—first time a commercial bank became shareholder vs. lender. Banks globally invest in fintech for emerging markets; state backing signals credibility crucial for international capital in high-growth frontier markets.
EGYPT · BUSINESS
Key Facts
—The milestone: Egyptian fintech MNT-Halan has reached a $1.4 billion valuation.
—The backer: The round is led by Al Ahly Capital, the investment arm of the state-owned National Bank of Egypt.
—The first: It is the first time a commercial bank has taken an equity stake in the company, rather than simply lending to it.
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