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% of the company, which will now see MNT-Halan reach a post-money valuation of $1 billion.

MNT-Halan operates a digital wallet that provides bill payments, e-commerce, ride-hailing, and loans. MNT-Halan's ecosystem connects consumers, merchants, and micro-enterprises to business loans, consumer finance, payments, BNPL, and e-commerce offerings.

MNT-Halan is the largest lender to the unbanked in Egypt, having disbursed over $2 billion in loans. The company's primary revenue generator is lending, and it has added a digital ecosystem of products, including e-commerce and FMCG delivery, to support its lending operations.

On average, businesses access $1,000 worth of loans while paying a 25% annual interest on the platform; CEO Mounir Nakhlanoted that the fintech maintains a healthy nonperforming loan ratio without disclosing its figure.

MNT-Halan serves over 5 million customers in Egypt and plans to launch a debit card by the end of March. The fintech claims to have made over $300 million in revenue last year, representing a modest 3.4x multiples on its unicorn valuation which aligns with the present public market calculations. MNT-Halan says it plans to expand internationally after strong growth in Egypt.