The company, which provides loan services to small and micro businesses, payments, consumer finance and e-commerce, describes itself as Egypt’s first billionaire technology company, meaning it is a privately owned technology company worth more than $1 billion..
The company obtained a large portion of the financing this year through the securitization of its loan book, which is currently worth $650 million and growing at a rate of four percent to five percent per month, according to a statement issued by the company..
The company plans to securitize a total of $550 million by the end of December.
The $130 million securitization was carried out through local investment bank CI Capital.
The statement said that MNT Halan has more than 1.5 million active customers per month.
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