Egypt-based fintech company MNT-Halan has announced its expansion into the UAE, marking a significant growth phase for the unicorn startup. Co-founder Mounir Nakhla emphasizes that the company has only begun to tap into its full potential, highlighting the mission to redefine financial access for millions.

Founded in 2018, MNT-Halan originally launched as a ride-hailing platform. After a merger with Netherlands-based MNT Investments B.V., the company evolved into a comprehensive financial super app. It achieved unicorn status in 2023 and is now the seventh-largest financial institution in Egypt.

Today, MNT-Halan provides a broad suite of services, including lending, payments, and e-commerce, operating across Egypt, Pakistan, Turkey, and now the UAE. The platform aims to serve the unbanked and underbanked populations, addressing significant gaps in financial accessibility.

The app offers microfinancing options, allowing loans of up to 200,000 EGP (approximately US$3,950) that can be accessed within three working days. MNT-Halan has captured over 25% of Egypt’s microfinance market, while its diverse lending options include buy-now-pay-later (BNPL) services, payroll lending, and small and medium enterprise (SME) lending.

According to Entrepreneur, Nakhla explained that MNT-Halan’s objective is to empower both businesses and individuals. “Built on our proprietary core banking technology, MNT-Halan scales financial inclusion at speed, unlocking economic potential across emerging markets,” he stated. The company has disbursed over $11 billion to date, targeting a 50% annual growth rate in its loan book, which currently stands at $1.2 billion.

With its recent launch in the UAE under the name Halan UAE in December 2024, the startup is introducing Halan Advance, a salary financing solution providing employees with early access to their wages. Within six months of entering the UAE market, MNT-Halan issued over 100 000 earned wage access loans, addressing critical financial gaps for a largely underbanked expatriate workforce.

MNT-Halan’s approach is tailored to each market it operates in, leveraging proprietary technology to address specific challenges. In Turkey, for example, the company has focused on improving access to credit for businesses facing high interest rates and long lead times. In contrast, in Pakistan, MNT-Halan is addressing the low household debt-to-GDP ratio, helping those who lack structured credit.

As Halan UAE aims to carve out a niche in the competitive fintech landscape, Nakhla outlined three objectives: enhancing salary financing and micro-loans for the underbanked, expanding innovative financial products, and achieving scale through strategic partnerships. “Our salary financing solutions provide instant liquidity with flexible repayment options,” he reiterated, underscoring the urgency of addressing financial gaps for millions of expatriates.

Looking ahead, MNT-Halan plans to launch a remittance service called “Send Now, Pay Later,” allowing users to send money instantly and repay in installments. The company is also set to integrate with leading payroll providers to reach a broader audience within the UAE.

Nakhla remains focused on the startup’s long-term mission, stating, “Our goal is clear: to redefine financial access for millions in the UAE, delivering innovative, technology-driven solutions that empower individuals and businesses alike.” As MNT-Halan continues its growth trajectory, the co-founders are setting ambitious milestones, with Nakhla expressing a desire to pursue decacorn status in the future.