MNT-Halan, an Egyptian fintech unicorn, is expanding its reach with the acquisition of Tam Finans, a Turkish fintech company. This move is part of a broader strategy fueled by $157.5 million in new funding. Tam Finans, which offers financing to micro-enterprises and SMEs and holds a 40% market share in Turkey, will now be part of MNT-Halan. The combined entity will boast a loan portfolio nearing $1 billion. MNT-Halan’s CEO, Mounir Nakhla, highlighted the strategic fit of this acquisition for entering the Turkish market, leveraging Tam Finans’ infrastructure and expertise. The deal also includes equity stakes for Actera and the European Bank for Reconstruction and Development (EBRD), both of whom will become shareholders in MNT-Halan. This latest funding round follows a previous $400 million raise that valued MNT-Halan at $1 billion. With plans to extend its services, including a new factoring license, MNT-Halan aims to capitalize on the unbanked population in Turkey. The company, which has already disbursed over $4.5 billion in loans in Egypt, continues to diversify its offerings, including consumer finance, prepaid cards, e-wallets, and more, all integrated into a recently launched super app. This strategic growth follows MNT-Halan’s earlier expansion into Pakistan and is supported by investments from several partners, including DPI, Lorax Capital Partners, Apis Partners LLP, Lunate, GB Corp, and the IFC.
