MNT-Halan expands already diverse range of services with Talabeyah acquisition
Currently, MNT-Halan provides FinTech services including small business and consumer lending, payments, and e-commerce, as well as delivery and ride-hailing services
Thu, Jun. 23, 2022
Egyptian FinTech MNT–Halan has acquired another local startup, B2B ecommerce and distribution platform Talabeyah, expanding their already diverse portfolio of services.
The terms and conditions of the deal were not disclosed.
With the acquisition, MNT-Halan will add a digital FMCG offering to its growing list of services and products which "greatly enhances the company's breadth and scope and increases stickiness to its ecosystem."
Currently, it provides FinTech services including small business and consumer lending, payments, and e-commerce, as well as delivery and ride-hailing services.
"The acquisition of Talabeyah is another step in our strategy of building a comprehensive digital ecosystem and is a perfect fit for our two companies. Talabeyah has developed an elaborate online catalogue, signed contracts with the largest FMCG suppliers, and demonstrated solid execution of its operations," explained MNT-Halan CEO, Mounir Nakhla in a statement.
He went on to say that his company will enable Talabeyah to scale nationwide by providing access to hundreds of thousands of merchants and retailers.
According to the statement, MNT-Halan serves more than 4 million customers in Egypt, of which 3.1 million are financial clients and 1.8 million are borrowers.
Egyptian ride-hailing and delivery startup Halan entered into a share swap agreement last year with Netherlands payments company MNT to create Egypt's first "super app," providing a wide array of services including e-payments, microfinance, delivery and ride-hailing services.
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