Egypt's largest non-bank financial institution and fintech company, MNT-Halan, has acquired Tam Finans, marking its expansion into Türkiye.
Tam Finans, a commercial finance company with a loan book that exceeds $300 million (TL 99 billion), operates in the factoring sector and provides financing to micro-enterprises and small- and medium-sized enterprises (SMEs).
MNT-Halan purchased Tam Finans from private equity firm Actera Group and the European Bank for Reconstruction and Development (EBRD), according to a statement from the companies.
The statement did not disclose the size of the transaction.
"Today, MNT-Halan joins forces with Tam Finans to provide millions of businesses and consumers access to innovative financial services in Türkiye. Combining Tam Finans’ credit models, distribution capabilities and management team with MNT-Halan's technology, customer-facing app and financial muscle will help complete the product offering and give greater confidence to all its stakeholders," said MNT-Halan’s Founder and CEO Mounir Nakhla.
"Türkiye and Egypt's histories and cultures have been intertwined for hundreds of years and their current economic outlook points to a bright future that we are ready to capitalize on."
Hakan Karamanlı, Tam Finans' CEO, said the company is "delighted to join the MNT-Halan family."
"Their core belief that financial access enables people to fulfill their dreams mirrors the same ethos we have built our company on. MNT-Halan’s scalable technology will now allow us to grow faster and take our mission to more businesses and people as we capture cross-selling opportunities through an expanded product and services offering," Karamanlı noted.
The deal follows MNT-Halan’s expansion into Pakistan and comes as the company recently raised $157.5 million from the International Finance Corporation (IFC) as well as existing shareholders, including Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate and GB Corp.
Since its inception in 2012, Tam Finans says it has disbursed more than $6 billion and currently disburses more than $50 million monthly to tens of thousands of customers.
As the only factoring company to hold all three ISO 9001, ISO 10002 and ISO 27001 certifications, it is a leader in globally recognized service quality. Tam Finans was acquired in 2024 by MNT-Halan.
