MNT-Halan, Egypt's pioneering fintech startup and the nation's first unicorn led by tech entrepreneur Mounir Nakhla, has acquired Turkish commercial finance company Tam Finans. This strategic move, facilitated by Actera Group and the European Bank for Reconstruction and Development (EBRD), underscores MNT-Halan's aggressive expansion plans.
Ambitious expansion strategyThe acquisition of Tam Finans, which boasts a loan book exceeding $300 million, is a testament to MNT-Halan's ambition to become a regional fintech powerhouse. Legal and financial advisors for the transaction included Maatouk Bassiouny Hennawy, Esin Attorney Partnership, Van Campen Liem, Clifford Chance, PWC, and BCG, according to a press release.
This acquisition follows MNT-Halan's recent entry into the Pakistani market, showcasing its ability to replicate success across diverse geographies. The company recently secured $157.5 million from the International Finance Corporation (IFC) and existing shareholders, a significant milestone that enables further international expansion.
Synergies with Tam FinansMounir Nakhla, Founder and CEO of MNT-Halan, highlighted the synergies with Tam Finans, stating, "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." Hakan Karamanli, CEO of Tam Finans, echoed this sentiment, highlighting the potential for accelerated growth and expanded product offerings.
