(Ecofin Agency) - After raising $520 million over the past three years, Egyptian financial services company MNT-Halan has secured an additional $157.5 million to fuel its growth beyond its domestic market.

Egyptian fintech MNT-Halan announced on July 20 that it has raised $157.5 million to support its growth and geographical expansion.

Of this amount, the International Finance Corporation (IFC) invested $40 million in equity. The remaining capital was provided by five previous investors: Development Partners International, Lorax Capital Partners, Apis Partners, Lunate, and GB Corp.

MNT-Halan plans to use this funding to expand beyond Egypt, though the targeted countries have not been disclosed.

"While Egypt remains our primary market, we are committed to revolutionizing access to financial services beyond Egyptian borders," said Mounir Nakhla, CEO of MNT-Halan.

This funding round follows $400 million and $120 million raises by the fintech in January 2023 and September 2021, respectively. Co-founded in 2018 by Mounir Nakhla and Ahmed Mohsen, MNT-Halan claims to have provided over $4.4 billion in loans to more than 7 million customers in Egypt to date.

The company offers financial solutions including microloans, consumer credit, savings solutions, and mobile payments for individuals and businesses.