MNT-Halan, Egypt’s leading fintech player, announced the acquisition of Talabeyah — a B2B e-commerce platform that provides next-day delivery of FMCG supplies directly to small merchants, retailers, and soon consumers.
According to a press statement, MNT-Halan’s acquisition will disrupt the current multi-layered and fragmented FMCG supply chain model and empower small merchants.
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 their customers’ purchases, and backing the firm with our 120 tech engineers. I am excited to partner with Karim and his talented team at Talabeyah. Together, we will continue to extend our product offering to Egyptian retailers and further grow our loan book and margins.”
For his part, CEO of Talabeyah Karim Nassef said: “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 that will allow us to rapidly scale our operations. We are happy to be part of MNT-Halan’s vision and are excited to expand cross borders with them.”
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 digitise the informal FMCG market in Egypt by leveraging technology, an innovative supply chain model, and the founders’ extensive experience in the FMCG sector.
It provides small retailers immediate access to an extensive range of products, clear visibility on pricing and a highly reliable quality of service.
VanCampen Liem, Maatouk, Bassiouny & Hennawy, White & Case, and Van Doorne served as legal advisers throughout the transaction.
