Funding round
MNT-Halan Growth
Reported as "Growth Equity"
MNT-Halan, which works in digital lending services in Egypt, raised $120M in a Growth round announced on 8 Sep 2021, led by Apis Partners. 9 firms took part, 1 of them already investors. It is MNT-Halan's first venture round on record.
$120M
Amount raised
Not disclosed
Post-money valuation
9
Investors
1 lead
Valuation
What this round says about the price
MNT-Halan did not disclose a valuation in this round. It is MNT-Halan's first venture round on record, 3 years after it was founded in 2018. It is 18% of the $678M MNT-Halan has raised in the venture rounds on record. MNT-Halan raised again 17 months later: a Growth round of $400M in Feb 2023, at $1.00B post-money.
MNT-Halan's funding rounds
MNT-Halan has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Growth this round 8 Sep 2021, led by Apis Partners $120M
- Growth 1 Feb 2023, led by Chimera Abu Dhabi $400M$1.00B post-money
- Growth 19 Jul 2024, led by International Finance Corporation $158M
- Debt not a venture round 1 Apr 2026 $41M
- Growth 8 Jun 2026, led by Al Ahly Capital Holding amount not disclosed$1.40B post-money
Investors
Who put money in
Apis Partners led the round with 8 other firms. Wamda Capital had backed MNT-Halan before.
Lead investor
- backs 19 venture-backed companies new investor
Also in the round
- backs 12 venture-backed companies new investor
- backs 3 venture-backed companies new investor
- backs 27 venture-backed companies new investor
- Endeavor backs 236 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- backs 43 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
45 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 1.5 times the median. The closest in time, other companies' Growth rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Prodigy Finance Loans & Financing | 23 Sep 2021 | $750M | not disclosed | CPP Investments |
| Loans & Financing | 8 Sep 2021 | $120M | $700M | Apis Partners |
| Loans & Financing | 28 Sep 2021 | $50M | not disclosed | Lightrock |
| GoodLeap Loans & Financing | 13 Oct 2021 | $800M | $12.00B | BDT & MSD Partners |
| Loans & Financing | 4 Oct 2021 | $120M | not disclosed | Sequoia Capital and Creation Investments |
| Loans & Financing | 4 Oct 2021 | $27M | not disclosed | not named |
| Clearco Loans & Financing | 8 Jul 2021 | $215M | not disclosed | SoftBank Vision Fund |
| Loans & Financing | 8 Nov 2021 | $120M | $850M | Fidelity Management & Research Company, LLC and Visa |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did MNT-Halan raise in its Growth round?
MNT-Halan raised $120M in its Growth round, announced in Sep 2021.
Who led MNT-Halan's Growth round?
Apis Partners led it, with Development Partners International, Lorax Capital Partners, Middle East Venture Partners, Endeavor and Disrupt.com and 3 more.
What was MNT-Halan's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Loans & Financing?
45 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 1.5 times the median.
Did MNT-Halan raise again after this round?
Yes: a Growth round in Feb 2023 of $400M at $1.00B post-money.