Halan: Story, Founders, Investors & Funding Rounds
Halan is an Egyptian financial technology company that helps people and small businesses get loans from places other than banks. To meet the challenge of providing financial services to all 100 million people in Egypt, Halan made its proprietary technology to make it easier to finance a growing customer base and give its customers access to specialized knowledge packaged in solutions that are easy to implement.
As a company, its main goal is to come up with new digital solutions for people who don’t have bank accounts or are poor.
Seventy percent of Egypt’s one hundred million people don’t use banks. Here is where they are helping to close the gap by getting cash and financial services to these areas.
They also give their clients a world-class, safe, and secure environment so they can use their service with confidence and help them become Egypt’s go-to provider of alternative finance solutions.
As they use technology to grow and bring in new clients, they try to offer the best services possible that make every step more efficient. Even though FinTech is still a new business in Egypt, Halan has doubled down and changed its focus to offer a full ecosystem that supports a wide range of products and services.
How it Works
To meet the challenge of providing financial services to all 100 million people in Egypt, Halan made its proprietary technology to make it easier to finance a growing customer base and give its customers access to specialized knowledge packaged in solutions that are easy to implement.
Halan offers financing up to 200,000 EGP with a touch of a button without having a bank account and with just your national ID and Commercial Registry and Tax ID.
This solution gives the power back to their consumers and enables them to make purchasing decisions. They give their customers the trust to Buy Now, Pay Later in monthly installments.
Their payment solutions are a fast and easy way for their consumers’ needs to be met while providing them with a safe and reliable way to make payments.
Mounir Nakhla is the Co-Founder and CEO of Halan.
Mounir Nakhla attended the London School of Economics.
Ahmed Mohsen is the CTO and Co-Founder of Halan.
He previously worked at Flat6Labs as a Mentor.
Ahmed Mohsen attended The American University in Cairo.
Mohamed Aboulnaga is the Co-Founder/Advisor of Halan.
He previously worked at Klivvr as a Chief Executive Officer.
Mohamed Aboulnaga attended The American University in Cairo.
Investors & Funding Rounds
Middle East Venture Partners
Halan has raised about $15 million in a funding round that is still going on.
Halan’s Series A funding round, which was publicized, is for a total of $20 million. The company announced that it had raised a Series A, but it didn’t say how much money it had raised. Based on an SEC filing, the company had been able to raise $4.3 million. Before Series A, Battery Road Digital Holdings gave them $525,000 in a round called a seed round.
The company has raised $20 million so far, but only about $15 million of that has been made public. After this round, Halan raised a total of $20 million. This makes it the third best-funded Egyptian company of all time, after Swvl and Vezeeta.
One of the investors in this round is Middle East Venture Partners (MEVP), which is based in Dubai. Even though they didn’t take part in Halan’s seed or Series A rounds of funding, they now list Halan as one of their portfolio businesses on their website, which shows their commitment to the current Series B round.
The MEVP has already given money to a Pakistani company that works in the same field. We don’t know for sure, but it seems like some investors from Africa took part in this round.
It’s also not clear if any of Uber’s original investors, like Battery Road Digital Holdings, Algebra Ventures, or co-founder and chief technology officer Oscar Salazar, took part in this most recent funding round.
Halan is already present in Egypt and Sudan, and it wants to enter the market in Ethiopia.
Since starting its logistics division, the company has made deals with fast food giants like KFC and McDonald’s to deliver their food to their customers in the last mile. It has been seeing if it would work to sell a small number of items through its mobile app.
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