When Egyptian B2B e-commerce platform Cartona last raised money in 2022, global and local investors were eager to invest in African startups solving the supply chain and operational challenges for retailers and suppliers in the fast-moving consumer goods (FMCG) industry. Two years on, investors aren’t as enthused anymore as the business models of such startups, […]
Egypt’s MNT-Halan banks $157.5M, gobbles up a fintech in Turkey to expand
MNT-Halan, a fintech unicorn out of Egypt, is on a consolidation march. The microfinance and payments startup has raised $ 157.5 million in funding and is using the money in part to fund the acquisition of another fintech, Tam Finans, to expand into Turkey. Tam Finans provides financing to micro-enterprises and SMEs. It currently operates […]