Egyptian fintech startup MNT-Halan adds BNPL feature to it’s digital ecosystem
MNT-Halan, an Egyptian fintech startup, has launched a buy-now-pay-later (BNPL) function to its digital ecosystem, which also includes business loans, payments, consumer finance, bill payments, e-commerce, and delivery.
The service is powered by Neuron, the company’s proprietary technology.
MNT-Halan began as a ride-hailing service for two- and three-wheeler vehicles in 2018, and has since evolved into a super app, becoming Egypt’s largest and fastest-growing lender to the unbanked.
Through its consumer facing app, merchant app, distributed lending and payment processing software, and payment solutions, the startup’s own financial ecosystem connects customers, vendors, and micro-enterprises, as well as offering services like as ride-hailing and logistics.
Disrupt Africa stated in September that it had secured a US$120 million investment from significant global and regional growth investors to further develop its product and expand worldwide, and it has now added a BNPL component to its ecosystem.
The new service gives consumers the tools they need to buy, pay for, and have anything they want delivered when they want it. Merchants gain from rapid business growth and enhanced customer loyalty by providing payment flexibility, allowing customers to use their credit limits both online and in stores.
Over 1,500 merchants have been onboarded using the Halan merchant app since its launch three months ago, more than 25,000 customers have transacted, and an additional 50,000 new customers are now in the onboarding process.
“By bringing value and convenience to the user in a single app, we are revolutionizing the shopping experience in Egypt.” In order to expand our digital offering, we are also expanding our e-commerce platform and enrolling third-party merchants. Our offline merchant response has also been outstanding. “I am extremely pleased to see that we are greatly increasing the revenue streams of every merchant we have onboarded,” stated Mounir Nakhla, CEO of MNT-Halan.
