MNT-Halan’s Journey from Ride-Sharing to Financial Powerhouse

In a remarkable transformation, Cairo-based ride-hailing app MNT-Halan has evolved into a $15.5 billion lender serving millions across Egypt, Turkey, Pakistan, and the UAE. The company recently filed for an initial public offering (IPO) on the Egyptian Exchange, marking a significant milestone for African fintech.

The IPO filing represents more than just a financial event—it’s validation of a new approach to financial inclusion that leverages operational data to serve previously excluded populations. MNT-Halan built its credit model by analyzing ride-hailing activity, extending loans to drivers who demonstrated consistent income but lacked formal banking relationships.

The Key to Success: Operational Data as Credit Signal

MNT-Halan’s founders recognized that motorcycle and tricycle drivers in Egypt’s informal economy generated reliable income—their challenge was accessing financial services. By using ride-hailing data to assess creditworthiness, the company created a pathway for millions of unbanked individuals to participate in the formal financial system.

Beyond Lending: A Diversified Fintech Ecosystem

The company has since expanded beyond lending into payments, savings, investments, and e-commerce—leveraging its initial success to build a comprehensive financial platform. This approach mirrors similar models gaining traction across Africa with companies like Gigmile in Nigeria and Jem in South Africa.

Institutional Validation Through Strategic Partnerships

A recent investment from the National Bank of Egypt (NBE), the country’s largest bank by assets, further validates MNT-Halan’s credit model. The partnership signifies a shift in how Egyptian banks view the informal economy—from risk to opportunity.

The company’s use of securitization has also been instrumental in its growth, allowing it to raise capital against its proven loan portfolio without diluting equity through additional funding rounds.

This IPO represents a pivotal moment for African fintech—demonstrating that homegrown companies can build sustainable businesses and access public markets within their own countries rather than relying on external investors.