MNT-Halan expands into Turkey with acquisition of Tam Finans
TLDR
- Egyptian fintech MNT-Halan acquires commercial finance company Tam Finans and its $300 million loan book from private equity firm Actera Group and the European Bank for Reconstruction and Development (EBRD) for undisclosed sum, expanding into Turkey.
- MNT-Halan recently concluded a $157.5 million funding round to support its expansion efforts, focusing on international growth through mergers, acquisitions, and partnerships.
- The acquisition deal emphasizes Turkey's "significant" market potential and ample growth opportunities in the banking sector.
Egyptian fintech MNT-Halan has acquired commercial finance company Tam Finans and its $300 million loan book from private equity firm Actera Group and the European Bank for Reconstruction and Development (EBRD) for an undisclosed sum, as part of its expansion into Turkey.
This acquisition follows MNT-Halan's recent $157.5 million funding round announced last week to support its expansion efforts. The company’s plans for international growth involve a mix of mergers and acquisitions (M&As) and partnerships.
Announcing the acquisition deal, MNT-Halan highlighted a “significant” market opportunity in Turkey, citing “ample growth opportunities for the banking sector.”
Key Takeaways
Egypt's most valuable startup and only unicorn, MNT-Halan, offers a variety of financial services to both businesses and consumers through the Halan app. These services include loans, pre-paid cards, e-wallets, savings, and e-commerce solutions. The recent acquisition of Tam Finans is set to complement MNT-Halan's offerings with micro-lending and factoring services, primarily targeted at SMEs. Tam Finans has reportedly disbursed more than $6 billion to date through these services.
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