DIGITAL ACCESS TO HUNDREDS OF THOUSANDS OF VENDORS ACROSS EGYPT TO SPUR GROWTH ACROSS LENDING, PAYMENTS, AND E-COMMERCE
By : Bakinam Khaled
MNT-Halan, Egypt’s leading fintech player, announced today 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 with next day delivery. 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.
MNT-Halan’s digital ecosystem includes small business and consumer lending, payments and e-commerce. Adding a digital FMCG offering to MNT-Halan’s merchant network greatly enhances the company’s breadth and scope and increases stickiness to its ecosystem.
The terms of the transaction were not disclosed.
Talabeyah was founded in 2020 by Karim Nassef, Amr Abbas, and Khaled Hussein to disrupt and digitize the informal FMCG market in Egypt by leveraging technology, an innovative supply chain model and the founders’ extensive experience in the FMCG industry.
Talabeyah’s end-to-end model gives small retailers immediate access to all FMCG products on one digital platform, with clear visibility on pricing and a high-level reliable quality of service to help them optimally manage their business.
Commenting on the acquisition, MNT-Halan CEO Mounir Nakhla 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.
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 customers’ purchases and backing the firm with our 120 tech engineers. I welcome Karim and his talented team to MNT-Halan and together we will continue to extend our product offering to Egyptian retailers, and further grow our loan book and margins.”
Karim Nassef, CEO of Talabeyah, added, “We are excited to have finally reached the closing and are very much looking forward to growing our business nationwide. Teaming with MNT-Halan provides us with extensive talent, technological and financial power to allow us to rapidly scale our operations. We are happy to be part of MNT-Halan’s vision, including their strategy to expand cross border.”
VanCampen Liem, Maatouk, Bassiouny & Hennawy, White & Case, and Van Doorne were legal advisors on the transaction.
