Digital ecosystem fintech MNT-Halan has raised US $ 400mn in the biggest funding event in Egypt and the Middle East for the past 12 months . The money will be used to drive forward the company ’ s expansion strategy .

MNT-Halan , one of Egypt ’ s fastest-growing fintechs , received an investment of more than $ 200mn from Chimera Abu Dhabi in exchange for 20 % of the company .

Additionally , MNT-Halan is in the advanced stages with leading international investors to raise $ 60mn of primary capital . Following the completion of these investments , MNT-Halan ’ s valuation will exceed $ 1bn .

MNT-Halan Founder and CEO , Mounir Nakhla , explains : “ As one of the region ’ s premier and most progressive investors , Chimera Abu Dhabi brings a unique and dedicated understanding of our business . I am excited for what lies ahead as we continue to grow both organically and inorganically by offering cutting-edge financial products and services locally and internationally to empower the underserved .”

� SALAD MONEY The affordable lending fintech , which stops consumers falling into the hands of high-cost and payday lenders , has secured a £ 40mn senior debt facility .

� CUSHON The workplace savings and pensions fintech is celebrating after selling an 85 % stake in the company to banking giant NatWest for £ 144mn .

� CRYPTO There ’ s not much love for cryptocurrencies as public sentiment remains ‘ slightly negative ’, according to a tracking tool created by GBBC Digital Finance ( GDF ).

� ZIP The Australian BNPL fintech is reversing many of its international expansion plans , focusing on the domestic market in a push for profitability .

fintechmagazine . com 17