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On the 11th of December, MNT-Halan, one of the biggest FinTech companies in Egypt, announced its expansion to the UAE market. This is considered a major step leading the way for more milestones to come. MNT-Halan is known for its outstanding offerings to the unbanked and underbanked. Through their super app, they aim to offer a range of financial solutions in the UAE, starting with Halan Advance, which is a secure and user-friendly salary financing solution for all businesses and employees.
MNT-Halan Taking Over the World: An Ecosystem of Superb Financial Solutions
Since its establishment in 2017 by Mounir Nakhla, MNT-Halan has been reaching for the ultimate way to offer all the financial services a person would need through one portal. With their ever-evolving mission of digitally banking the unbanked and substituting cash with electronic solutions, MNT-Halan was able to construct a distinct and one-of-a-kind collection of financial and digital payment services. These include, but are not limited to, BNPL (Buy Now, Pay Later), e-commerce, SME lending, and many more.
At the moment, Halan App serves over 2.4 million customers in Egypt alone. With the number of users nearly doubling annually since its launch.
With a valuation surpassing $1 billion, the company has earned its place among Egypt’s unicorn club. This helped the company to decide to expand geographically. MNT-Halan is already operating in regions like Turkey and Pakistan, accomplishing major success. This pushed them further to decide to take over another powerful market like the UAE’s market.
MNT-Halan’s Bold Expansion in The UAE Sparks Excitement in Fintech
MNT-Halan is taking slow steps in the UAE’s market and preparing for much bigger ones later on. Halan UAE started by launching its outstanding service, Halan Advance. This service aims to target over 250,000 customers in 2025. Halan Advance is a fast and smart solution for employers and employees in all businesses. It allows employees to have early access to their salaries and funds. This, in addition to simple and automatic repayment options, aims to ease employees’ financial stress to enhance focus and performance.
The group is backed by international investors, including Abu Dhabi sovereign fund Lunate. Since establishing its presence in the UAE in April 2024, they were able to secure partnerships with many employers. They have already acquired over 40,000 customers from the intended 250,000 they aim to reach by 2025.
Final Thoughts
MNT-Halan proves its leadership in the FinTech sector, either by receiving many accolades, including the Most Innovative Fintech Company in the Middle East and Africa by Global Finance Magazine, being featured on Forbes Middle East’s The Middle East’s Fintech 50, and more. Or by successfully taking over such vibrant markets like the UAE. With over 3.7 million underbanked expatriates in the UAE, earning a combined monthly income of over AED 10 billion, MNT-Halan was able to start leading and acquiring a huge number of users in the swiftest time.
