Originally launched as a ride-hailing platform in Egypt in 2017, Halan aka MNT-Halan has evolved into a significant fintech company with a focus on providing financial services to underserved populations. This transformation is characterized by strategic growth initiatives and a commitment to serving the unbanked market.

Business Model

MNT-Halan operates as a digital financial services provider, offering a range of products designed to bridge the financial gap for those underserved by traditional banking systems:

• Loans and Microfinance: MNT-Halan is Egypt’s largest non-bank lender, providing loans and microfinance solutions to individuals and small businesses lacking access to traditional banking services.
• Buy-Now-Pay-Later (BNPL): This service allows consumers to purchase goods and pay in installments, promoting financial inclusion and enhancing affordability.
• E-commerce and Payment Solutions: The platform offers comprehensive payment-processing solutions through Halan Neuron, including digital wallets and cards, facilitating various financial transactions.

MNT-Halan’s mission is to cater to the approximately 70% of Egyptians who are underserved by traditional banks, leveraging proprietary technology to scale its customer base and provide accessible financial solutions.

Early Growth Strategies

1. Market Focus: Targeting underserved markets with lower competition enabled MNT-Halan to establish a strong presence in financial services. This focus allowed the company to differentiate its offerings and gain market traction.
2. Partnerships and Support: Collaborations with larger organizations, such as GB Auto, provided essential resources and market leverage. These partnerships accelerated MNT-Halan’s growth and facilitated its transition into fintech.
3. Adaptability: Founder Mounir Nakhla emphasized the importance of pivoting from less profitable ventures. Recognizing the limited profitability of ride-hailing, MNT-Halan refocused on lending and financial services, which offered better unit economics.
4. Innovative Product Development: Expanding beyond ride-hailing, MNT-Halan introduced logistics, food delivery, and financial products. This diversification positioned the company as a super app, enhancing its market appeal and utility.
5. Aggressive Fundraising: Securing significant funding, including a $260 million equity financing round in early 2023, supported MNT-Halan’s operations and expansion plans. This funding was crucial for scaling its services and entering new markets.

These strategies have driven MNT-Halan’s growth in Egypt and facilitated its recent expansions into Turkey and Pakistan, demonstrating the scalability of its business model and its commitment to enhancing financial access across borders.