Egypt’s MNT-Halan raises $130m in latest securitized bond

MNT-Halan, Egypt's pioneering unicorn, recently completed a successful securitization, raising a substantial $130 million. This marks the fifth tranche of securitized bond issuances this year, contributing to over $400 million in funding.

Established in 2018, MNT-Halan's primary mission is to provide digital financial services to the unbanked population and transition traditional cash transactions into electronic solutions. Its digital ecosystem encompasses small and micro business lending, payment solutions, consumer finance, and e-commerce. With a user base of more than 1.5 million active users each quarter, MNT-Halan has effectively served over seven million customers in Egypt.

The company recently disclosed that all of these issuances were met with overwhelming demand, cumulatively raising over $400 million this year, and it is aiming to secure an additional $150 million by year-end. The company attributes the strong demand for these issuances to the "resilience" of its business model, the exceptional quality of its loan portfolio, and the robust repayment capabilities associated with its underlying loan book.