Riyadh – Sharikat Mubasher: MNT-Halan, Egypt’s largest non-bank financial institution and fintech, uncovered plans to expand in the GCC markets especially in the Saudi Kingdom as well as Africa.

 The company started operating first in the UAE market and has recently acquired Tam Finans, a leading commercial finance company in Turkey with a loan book exceeding US $300 million, from Actera Group, the country’s leading private equity firm, and the European Bank for Reconstruction and Development (EBRD), according to a statement made by Mounir Nakhla, MNT-Halan’s founder and CEO.

Commenting on this acquisition Nakhla said, “Today, MNT-Halan joins forces with Tam Finans to provide millions of businesses and consumers access to innovative financial services in Turkey. Combining Tam Finans’ credit models, distribution capabilities, and management team with MNT-Halan’s technology, customer-facing app, and financial muscle will help complete the product offering and give greater confidence to all its stakeholders. Turkey and Egypt’s histories and cultures have been intertwined for hundreds of years and their current economic outlook points to a bright future that we are ready to capitalize on.”

This acquisition follows shortly after MNT-Halan’s expansion into Pakistan, demonstrating the scalability and diversification of the company’s business model. The company recently raised $157.5 million from the IFC (International Finance Corporation) as well as existing shareholders, including DPI (Development Partners International), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp. Their continued investment reflects confidence in the Egypt-born company’s ability to scale and expand access to financial services across borders.