The African continent has come a long way in raising unicorns. About seven years ago, the continent did not have a single unicorn, but today, the continent accounts for seven startups worth over $1 billion.

A 'startup unicorn' is a privately-held (i.e., not public) tech company worth $1 billion or more on paper, irrespective of its founding date, sector of operations, or regional focus.

Egyptian fintech MNT-Halan attains unicorn status after raising $400M
Egyptian fintech company MNT-Halan has raised $400 million in a funding round, including $260 million in equity financing and $140 million through securitized bond issuances. Abu Dhabi-based Chimera Investments provided the largest portion of the equity financing, $200 million, in exchange for 20%…

The latest startup unicorn in Africa is Egypt’s MNT-Halan, which was minted just last week after a $400 million funding round.

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