Egypt fintech MNT-Halan raises $82M ahead of IPO

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Egyptian fintech firm MNT-Halan has secured EGP 4 billion ($82 million) through securitised bond issuances, solidifying its status as the country’s largest non-bank micro-lender before its upcoming initial public offering (IPO). The funds were obtained via two subsidiaries—Tasheel Finance and Halan Consumer Finance—and will fuel its expanding loan portfolio, which totaled $947 million by mid-2026.

The capital raise consists of two debt tranches from Tasheel Finance: EGP 1.2 billion ($24.6 million) and EGP 2.28 billion ($46.8 million), alongside EGP 528.5 million ($10.8 million) from Halan Consumer Finance. All tranches feature a 13-month maturity and an A- credit rating from Middle East Credit Rating and Investor Services (MERIS). CI Capital and Al Ahli Pharos provided advisory services, while Matouk Bassiouny & Hennawy handled legal representation. Baker Tilly served as auditor, and Capital Securitization executed the transaction vehicle.

As of December 2025, MNT-Halan controlled 24.3% of Egypt’s non-bank microfinance loan book and 14% of non-bank consumer finance disbursements. Its borrower base now exceeds 1.9 million, with 1.4 million payment cards issued since launching its card business in October 2023. Since its founding, the company has disbursed a cumulative EGP 178 billion in credit.

Securitisation has emerged as a key funding method for Egypt’s non-bank lenders, enabling them to reinvest capital from existing loans into new lending without overdependence on bank credit. With rising interest rates and inflation restricting household spending, this approach helps firms like MNT-Halan sustain growth while controlling borrowing costs. Competitors such as Valu, backed by EFG Hermes, have adopted comparable strategies, indicating a broader industry shift toward capital markets for consumer and small-business financing.

The latest bond issuances demonstrate MNT-Halan’s disciplined funding strategy, with dedicated lines for its microfinance and consumer finance divisions. The A- rating offers investors a clear credit benchmark, while the 13-month maturity sets a defined repayment schedule. This structured approach aligns with the company’s rapid expansion, particularly in regions beyond major urban centers.

By mid-2026, MNT-Halan operated 1,200 distribution points across 25 governorates, including branches, retail partnerships, and seasonal outlets. This physical network complements its digital lending services, extending financial access to rural areas and small businesses that often lack traditional banking options. Its product range includes microfinance, consumer loans, SME financing, and payment solutions, addressing varied borrowing needs.

The company’s growth has attracted closer oversight from Egypt’s Financial Regulatory Authority (FRA), which is enforcing stricter controls on non-bank lenders. Key areas under review include capital adequacy, anti-money-laundering compliance, and consumer lending practices. Sector data from the second quarter of 2026 shows agricultural microloans made up 25.6% of total microfinance balances, showing the sector’s role in supporting rural economic activity.

As MNT-Halan prepares for its IPO, planned to list up to 20% of its shares on the Egyptian Exchange (EGX), the debt raise provides operational flexibility before the listing. The IPO will put the company’s credit quality and ability to sustain growth under closer scrutiny.