Egypt's fintech firm MNT-Halan raises $130 mln in securitisation

Egyptian microfinance lending and payments company MNT-Halan said on Thursday it raised $130 million through a securitised bond issuance this week, bringing its total securitisations this year to $400 million.

MNT-Halan, which provides small- and micro-business lending, payments, consumer finance and e-commerce, describes itself as Egypt's first unicorn, or privately held technology company worth over $1 billion.

The company has obtained much of the finance this year by securitising its loan book, now worth $650 million and growing by 4& to 5% a month, according a statement released by the company. It plans to securitise a total $550 million by the end of December.

The $130 million securitisation was done through local investment bank CI Capital.

MNT-Halan has more than 1.5 million customers who are active monthly, the statement said.