MNT-Halan, an Egyptian FinTech company that provides financial services to the unbanked in that nation, revealed on February 1 that it had raised nearly USD 340 million in debt and equity financing.
Additionally, the FinTech claimed that it was “in advanced stages with top international investors to raise USD 60 million of primary capital.” The total amount of capital raised will now exceed USD 400 million. The valuation of MNT-Halan will eventually reach over USD 1 billion at the conclusion of this funding round, according to the FinTech.
Chimera Abu Dhabi, a private investment company that manages a portfolio of listed and unlisted stocks, reportedly contributed more than USD 200 million. In exchange, Chimera Abu Dhabi received equity worth more than 20% of the business.