– Egyptian fintech company MNT-Halan has acquired Turkish commercial finance firm Tam Finans, which holds a loan portfolio exceeding $300 million. This deal involved Actera Group and the European Bank for Reconstruction and Development (EBRD) as sellers.

– The acquisition follows MNT-Halan’s recent expansion into Pakistan and is supported by a $157.50 million investment from the International Finance Corporation (IFC) and existing shareholders, highlighting the firm’s strong international growth potential.

– Turkey’s substantial market opportunity, characterized by an 85 million-strong population and a low household debt-to-GDP ratio, aligns with MNT-Halan’s strategy to enhance digital financial solutions.

Egyptian fintech company MNT-Halan has acquired Tam Finans, a Turkish commercial finance company with a loan book exceeding $300 million, from Actera Group and the European Bank for Reconstruction and Development (EBRD).

This acquisition follows MNT-Halan‘s recent expansion into Pakistan, showcasing the company’s scalable and diversified business model. The company secured $157.50 million from the International Finance Corporation (IFC) and existing shareholders, underscoring confidence in its international growth potential.

Turkey offers a significant market opportunity with a population of 85 million, a GDP over $1 trillion, and a low household debt-to-GDP ratio of 11.70%. MNT-Halan’s digital financial solutions aim to revolutionize the banking sector for both businesses and individuals in the country.

Legal and financial advisors for the transaction included Maatouk Bassiouny & Hennawy, Esin Attorney Partnership, Van Campen Liem, Clifford Chance, PWC, and BCG, as per a press release.

Mounir Nakhlam, Founder and CEO of MNT-Halan, said: “Combining Tam Finans’ credit models, distribution capabilities, and management team with MNT-Halan’s technology, customer-facing app, and financial muscle will help complete the product offering and give greater confidence to all its stakeholders.”

Hakan Karamanlı, CEO of Tam Finans, commented: “MNT-Halan’s scalable technology will now allow us to grow faster and take our mission to more businesses and people as we capture cross-selling opportunities through an expanded product and services offering.”