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Thursday, 23 June 2022

MNT–Halan acquires Talabeyah

This super app just became more super: MNT–Halan has acquired Cairo-based B2B e-commerce platform Talabeyah for an undisclosed amount, according to a statement (pdf).

About Talabeyah: Launched in January 2020 by Karim Nassef (LinkedIn), Amr Abbas (LinkedIn), and Khaled Hussein (LinkedIn), the company provides next-day delivery to small merchants and retailers, and helps them manage stock and inventory.

MNT-Halan: Last year Netherlands-based payments company MNT entered into a share swap agreement with Egyptian fintech / delivery / ride-hailing company Halan to create MNT-Halan, a company that offers a host of services, including e-payments, microfinance, delivery and ride-hailing services. The newly-merged company followed with a USD 120 mn funding round from a group of investors that included financial services-focused PE house Apis, the UK’s Development Partners International (DPI) and Lorax Capital Partners.

What they said: “The acquisition of Talabeyah is another step in our strategy of building a comprehensive digital ecosystem and is a perfect fit for our two companies … MNT-Halan will enable Talabeyah to scale nationwide,” MNT-Halan CEO Mounir Nakhla said.

Advisors: Matouk Bassiouny & Hennawy, White & Case, Van Campen Liem, and Van Doorne were legal advisors on the transaction.

IN OTHER STARTUP NEWS-

Egyptian e-commerce startup Dresscode has launched in Saudi Arabia, founder Mohamed Abdeldayem told Enterprise. The company raised a USD 250k investment from existing investor Egypt Ventures last year, following its seed round in August 2020. It is also looking to enter Kenya in 4Q 2022, Abdeldayem said.

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