MNT-Halan is a microfinance and digital payments platform that provides financial services to the unbanked and underbanked in Egypt, utilizing mobile wallets, virtual cards, and a Buy Now Pay Later (BNPL) system. The platform addresses the lack of access to traditional banking by offering quick loan disbursements and efficient payment solutions, facilitating financial inclusion for over 5 million clients.
Funding
$537.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
IFFounders
Product
Problem
Traditional banking services in Egypt and other emerging markets often exclude unbanked and underbanked populations due to lack of access, complex requirements, and limited financial infrastructure. This exclusion restricts economic opportunities and hinders financial inclusion for a significant portion of the population.
Solution
MNT-Halan provides a technology-driven platform that delivers microfinance and digital payment solutions to unbanked and underbanked individuals and businesses. The platform offers a range of services, including microfinance loans, SME lending, nano loans, buy now pay later (BNPL) options, payroll lending, and light-vehicle finance. Through its Halan Cash wallet, users can access loan disbursement and collection, peer-to-peer transfers, virtual card numbers for online shopping, bill payments, and cash in/out services via ATMs, facilitating financial inclusion and economic empowerment.
Target Audience
The primary target audience includes unbanked and underbanked individuals, micro-enterprises, SMEs, and employees seeking access to financial services and digital payment solutions in Egypt, the MENA region, and Africa.
Features
- Microfinance loans up to 200,000 EGP with disbursement in 3 working days
- SME lending from 200,000 EGP up to 5,000,000 EGP
- Nano loans up to 2,000 EGP with instant disbursement
- BNPL options with credit limits up to 200,000 EGP for purchases from over 4,000 vendors, payable in installments up to 36 months
- Payroll lending enabling companies to provide salary advances up to 80% to their employees
- Light-vehicle finance with convenient consumer finance programs
- Halan Cash wallet for loan disbursement and collection, peer-to-peer transfers, and payroll disbursement
- Virtual card numbers for secure online shopping without requiring a bank account or credit card
- Bill payment functionality for mobile recharge, mobile bills, electricity, water, gas, and internet bills
- ATM deposits and withdrawals for convenient cash access
- E-commerce platform for home appliances and electronics with various payment options
- B2B and B2C FMCG platform providing wholesale prices and delivery services