Egypt’s largest non-bank monetary establishment and fintech firm, MNT-Halan, has acquired Tam Finans, marking its enlargement into Türkiye.
Tam Finans, a business finance firm with a mortgage ebook that exceeds $300 million (TL 99 billion), operates within the factoring sector and gives financing to micro-enterprises and small- and medium-sized enterprises (SMEs).
MNT-Halan bought Tam Finans from non-public fairness agency Actera Group and the European Bank for Reconstruction and Development (EBRD), in response to an announcement from the businesses.
The assertion didn’t disclose the scale of the transaction.
“Today, MNT-Halan joins forces with Tam Finans to provide millions of businesses and consumers access to innovative financial services in Türkiye. 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,” mentioned MNT-Halan’s Founder and CEO Mounir Nakhla.
“Türkiye and Egypt’s histories and cultures have been intertwined for hundreds of years and their current economic outlook points to a bright future that we are ready to capitalize on.”
Hakan Karamanlı, Tam Finans’ CEO, mentioned the corporate is “delighted to join the MNT-Halan family.”
“Their core belief that financial access enables people to fulfill their dreams mirrors the same ethos we have built our company on. 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,” Karamanlı famous.
The deal follows MNT-Halan’s enlargement into Pakistan and comes as the corporate just lately raised $157.5 million from the International Finance Corporation (IFC) in addition to current shareholders, together with Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate and GB Corp.
Since its inception in 2012, Tam Finans says it has disbursed greater than $6 billion and presently disburses greater than $50 million month-to-month to tens of hundreds of consumers.
As the one factoring firm to carry all three ISO 9001, ISO 10002 and ISO 27001 certifications, it’s a chief in globally acknowledged service high quality. Tam Finans was acquired in 2024 by MNT-Halan.
Source: www.dailysabah.com