Actera Group, the top private equity firm in the nation, and the European Bank for Reconstruction and Development (EBRD) have acquired Tam Finans, a prominent commercial finance company in Turkey with a loan book exceeding US $300 million, by MNT-Halan, Egypt’s largest non-bank financial institution and fintech.

“MNT-Halan’s technology, customer-facing app, and financial muscle combined with Tam Finans’ credit models, distribution capabilities, and management team will help complete the product offering and give greater confidence to all its stakeholders,” stated Mounir Nakhla, founder and CEO of MNT-Halan. The histories and cultures of Egypt and Turkey have been entwined for hundreds of years, and their present economic situation suggests a promising future that we are prepared to take advantage of.

The European nation presents a market opportunity for MTN-Halan given its population of 85 million, a GDP surpassing $1 trillion, and a household debt-to-GDP ratio of only 11.7%.

“We are thrilled to become a part of the MNT-Halan family. Their central tenet—that having access to money allows individuals to realise their potential—is identical to the philosophy upon which we have founded our business. “With MNT-Halan’s scalable technology, we can now expand our product and service offerings to capture cross-selling opportunities and grow faster while spreading our mission to more businesses and people,” stated CEO Hakan Karamanlı of Tam Finans.

The Advans Group, a well-known global microfinance organisation with operations in nine developing nations, purchased Advans Pakistan Microfinance Bank Limited in March 2024. MNT-Halan is a financial and non-financial services provider that was founded in 2017 by Mounir Nakhla. Its services include financing, e-commerce, purchase now pay later, payments, mobility, and on-demand logistics. The company has raised around $520 million in the last two years, and in 2023 it became a unicorn after raising $400 million in the largest funding round in Egypt and the Middle East.