The fintech powerhouse continues its expansion with the acquisition of a platform hat offers FMCG supplies to small merchants, retailers, and soon, consumers, with next-day delivery.
Egypt-based fintech powerhouse, MNT-Halan, has announced the acquisition of Talabeyah, a B2B e-commerce platform that offers FMCG supplies directly to small merchants, retailers, and soon, consumers, meeting all their requirements for next day delivery.
MNT-Halan’s digital ecosystem includes small business and consumer lending, payments, and e-commerce. As a result of this transaction, MNT-Halan will be disrupting the current multi-layered and fragmented FMCG supply chain model and empowering small merchants.
The terms of the transaction were not disclosed.
Founded in 2020 by Karim Nassef, Amr Abbas, and Khaled Hussein, Talabeyah aims to disrupt and digitize the informal FMCG market in Egypt by leveraging technology, an innovative supply chain model. The digital platform provides small retailers immediate access to an extensive range of products, clear visibility on pricing, and a highly reliable quality of service to help them optimally manage their businesses.
“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,” said Mounir Nakhla, CEO of MNT- Halan.
“Talabeyah has developed an elaborate online catalogue, signed contracts with the largest FMCG suppliers, and demonstrated solid execution of its operations. MNT-Halan will enable Talabeyah to scale nationwide by providing access to hundreds of thousands of merchants and retailers, financing their customers’ purchases and backing the firm with our 120 tech engineers. I am excited to partner with Karim and his talented team to continue to extend our product offering to Egyptian retailers and further grow our loan book and margins,” he added.
Last year, MNT, Netherlands-based payments company, entered into an agreement with Halan, Egyptian fintech, delivery and ride-hailing company, to create MNT-Halan, which offers a wide range of services including e-payments, microfinance, delivery and ride-hailing.“We are happy to have finally reached the closing and are very much looking forward to growing our business nationwide,” said Karim Nassef, CEO of Talabeyah. “Teaming with MNT-Halan provides us with extensive talent and technological and financial power to allow us to rapidly scale our operations. We are thrilled to be part of MNT-Halan’s vision and are excited to expand cross border with them.”