Arab Finance: Al Ahly Capital, the investment arm of the National Bank of Egypt (NBE), has led the first closing of an investment round in Egypt-based fintech company MNT-Halan, following the completion of all required regulatory approvals, as per an emailed press release.

The transaction raised the valuation of MNT-Halan to $1.4 billion, with a second closing expected as part of the ongoing funding round. The companies did not disclose the size of the investment.

The deal adds to a growing number of partnerships between traditional financial institutions and fintech companies in Egypt, as banks and investors increase their exposure to digital financial services and non-bank financial solutions.

MNT-Halan said it will direct most of the proceeds toward expanding its operations in Egypt while also supporting its plans to grow across regional markets.

The company currently operates in Egypt and Türkiye and owns a specialized bank serving micro and small businesses in Pakistan. It also entered the UAE market in 2024 and is exploring further expansion opportunities across the Gulf region.

For Al Ahly Capital, the investment forms part of its private equity strategy focused on backing businesses operating in sectors linked to financial inclusion and economic development.

The transaction comes as Egyptian regulators continue efforts to support digital transformation and broaden access to financial and banking services through technology-driven platforms.

Advisors to the deal included Matouk Bassiouny & Hennawy as legal advisor and Al Ahly Pharos as financial advisor to MNT-Halan. Al Ahly Capital was advised by Van Campen Liem as legal advisor and Baker Tilly as financial and tax advisor.