Egyptian Fintech Unicorn MNT-Halan Launches in UAE Market
TLDR
- Egyptian fintech unicorn MNT-Halan has officially launched in the UAE, bringing its financial super app to the Gulf Cooperation Council (GCC) region
- The company’s first product in the market, Halan Advance, offers fast and secure salary financing to address the needs of the 3.7 million underbanked expatriates in the UAE
- Backed by global investors, including Abu Dhabi’s Lunate fund, MNT-Halan plans to roll out additional services, including credit, payments, and investment products
Egyptian fintech unicorn MNT-Halan has officially launched in the UAE, bringing its financial super app to the Gulf Cooperation Council (GCC) region. The company’s first product in the market, Halan Advance, offers fast and secure salary financing to address the needs of the 3.7 million underbanked expatriates in the UAE.
Backed by global investors, including Abu Dhabi’s Lunate fund, MNT-Halan plans to roll out additional services, including credit, payments, and investment products. Since its UAE presence began in April 2024, the company has partnered with leading employers and onboarded over 40,000 customers, targeting 250,000 users by the end of 2025.
With a strong track record in Egypt, Turkey, and Pakistan, MNT-Halan aims to capitalize on the UAE’s rapid adoption of digital solutions and a combined monthly income of AED 10 billion among underserved communities. The expansion aligns with the company’s vision to enhance financial inclusion and economic empowerment across the region.
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Key Takeaways
MNT-Halan’s UAE entry underscores a growing trend of fintechs targeting the region’s underbanked population. The UAE’s vibrant economy, high smartphone penetration, and 3.7 million underbanked expatriates present a significant market for tailored financial solutions. Halan Advance, the company’s salary financing product, exemplifies its focus on digital-first solutions that improve cash flow management for both employees and businesses. With compliance to UAE regulations and partnerships with key employers, MNT-Halan is positioned to redefine financial services in the GCC.
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