MNT-Halan acquires Pakistan’s Advans Microfinance Bank

MNT-Halan acquires Pakistan’s Advans Microfinance Bank

Egypt-based fintech MNT-Halan has acquired Advans Pakistan Microfinance Bank. The terms of the deal remain undisclosed.

Founded in 2017 by Mounir Nakhla, MNT-Halan offers a diverse portfolio of financial and non-financial services ranging from lending, buy now pay later, e-commerce, payments, and mobility to on-demand logistics. On the other hand, Advans is a public limited company active in Pakistan’s microfinance banking landscape.

In February 2023, MNT-Halan raised up to $400 million in equity and debt financing to fuel global expansion plans.

Soure: Profit

The Competition Commission of Pakistan (CCP) has finally given the green light to the acquisition of Advans Pakistan Microfinance Bank Limited by MNT–Halan Pak B.V., a holding company of a Dutch-Egyptian financial market player.

The share purchase agreement between the companies was signed in August 2023, following which the State Bank of Pakistan (SBP) gave its approval in October 2023. The approval of the CCP and “certain conditions precedents” needed to be satisfied before the deal was considered official.

MNT–Halan Pak B.V. is a holding company headquartered in the Netherlands, with subsidiaries operating in Pakistan under the names Halan Wallet (Private) Limited and Halan Finance Limited. MNT-Halan is backed by Dutch microlending company MNT and Egyptian fintech startup Halan, both of which entered