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Egyptian Fintech MNT-Halan Secures $400 Million in Funding, Valuation Rises to Over $1 Billion

MNT-Halan, an Egyptian fintech serving the country’s unbanked population, announced on Feb. 1 that it had raised close to $ 340 million via debt and equity financing. The fintech also said it is “in the advanced stages with leading international investors to raise $60 million of primary capital.” This will bring the total capital secured to over $400 million.

At the completion of this funding round, MNT-Halan’s valuation will subsequently rise to over $1 billion, the fintech said. According to a statement, Chimera Abu Dhabi, a private investment firm that oversees a portfolio consisting of listed and unlisted equities, invested more than $200 million. In return, Chimera Abu Dhabi was awarded equity equivalent to over 20% of the company. Commenting on Chimera Abu Dhabi’s investment, Seif Fikry, the investment firm’s CEO said:

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