The financial firm MNT-Halan has bought the Egyptian B2B e-commerce platform Talabeyah for an unknown sum.
Talabeyah, a company founded in July 2020 by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj, offers stores a simple, individualized solution that enables them to buy goods with only one click.
Additionally, because to its end-to-end architecture, FMCG providers have greater access to retailers, direct marketing channels, and real-time data to aid in better planning.
Late last year, the business obtained US $1.1 million in investment, and MNT-Halan, a “super app” provider that offers digital solutions including loans, purchase now pay later, e-commerce, payments, mobility, and on-demand logistics, has now acquired the startup.
“We are happy 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 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,” Nassef 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 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,” said MNT-Halan CEO Mounir Nakhla.
