Funding round
MNT-Halan Growth
Reported as "Growth Equity"
MNT-Halan, which works in digital lending services in Egypt, raised $400M in a Growth round announced on 1 Feb 2023, led by Chimera Abu Dhabi, at a $1.00B post-money valuation. 13 firms took part. It is MNT-Halan's second venture round on record; the one before was a Growth in Sep 2021.
$400M
Amount raised
of which $140M debt
$1.00B
Post-money valuation
13
Investors
1 lead
26%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced MNT-Halan at $1.00B after the new money. The $400M bought investors about 26% of the company. It came 17 months after MNT-Halan's Growth. It is 59% of the $678M MNT-Halan has raised in the venture rounds on record. MNT-Halan raised again 17 months later: a Growth round of $158M in Jul 2024. Its next priced round, a Growth in Jun 2026, valued it at $1.40B.
MNT-Halan's funding rounds
MNT-Halan has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Growth 8 Sep 2021, led by Apis Partners $120M
- Growth this round 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
Chimera Abu Dhabi led the round with 12 other firms.
Lead investor
- Chimera Abu Dhabi new investor
Also in the round
- Commercial International Bank (CIB) new investor
- Abu Dhabi Commercial Bank new investor
- Al Ahli Bank of Kuwait new investor
- Al Baraka Bank new investor
- Arab Africa International Bank new investor
- Agricultural Bank of Egypt new investor
- ABC Bank new investor
- new investor
- National Bank of Egypt new investor
- Housing and Development Bank new investor
- Tasaheel Microfinance Company new investor
- Halan Consumer Finance new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
38 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $68M, and this round was 5.9 times the median. The closest in time, other companies' Growth rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 8 Feb 2023 | $20M | not disclosed | SCBX and Lombard Asia |
| Loans & Financing | 22 Mar 2023 | $32M | $253M | Kingsway Capital |
| DMI Finance Loans & Financing | 3 Apr 2023 | $400M | not disclosed | MUFG Bank |
| Loans & Financing | 26 Dec 2022 | $200M | not disclosed | Mitsubishi UFJ Financial Group |
| Loans & Financing | 5 Apr 2023 | $30M | not disclosed | Accion |
| Loans & Financing | 1 Nov 2022 | $75M | not disclosed | Community Investment Management |
| Loans & Financing | 15 May 2023 | $37M | not disclosed | Sumitomo Corporation |
| Loans & Financing | 4 May 2023 | $25M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did MNT-Halan raise in its Growth round?
MNT-Halan raised $400M in its Growth round, announced in Feb 2023.
Who led MNT-Halan's Growth round?
Chimera Abu Dhabi led it, with Commercial International Bank (CIB), Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait, Al Baraka Bank and Arab Africa International Bank and 7 more.
What was MNT-Halan's valuation at the Growth round?
$1.00B post-money.
How does it compare with other Growth rounds in Loans & Financing?
38 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $68M, and this round was 5.9 times the median.
Did MNT-Halan raise again after this round?
Yes: a Growth round in Jul 2024 of $158M.