For an undisclosed sum, fintech firm MNT-Halan has acquired the Egyptian B2B e-commerce platform Talabeyah.
Late last year, the startup obtained US$1.1 million in funding, and MNT-Halan, a “super app” provider that offers digital solutions including lending, purchase now pay later, e-commerce, payments, mobility, and on-demand logistics, has now bought the startup.
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 order goods with only one click.
“We are pleased to have finally completed the close and are eager to expand our company across the country. We can quickly scale our operations because to our partnership with MNT-Halan, which gives us access to a wealth of people, technological prowess, and financial resources. We are ecstatic to collaborate with MNT-Halan to extend across borders, and we are happy to be a part of their mission, added Nassef.
“The acquisition of Talabeyah is a wonderful fit for our two businesses and is another milestone in our objective of creating a full digital ecosystem. Talabeyah has created a comprehensive online catalog, entered into agreements with the biggest FMCG suppliers, and displayed reliable operation. Talabeyah will be able to expand across the country thanks to MNT-Halan, which will give them access to hundreds of thousands of businesses, finance the purchases of their clients, and support them with our 120 IT engineers. According to MNT-Halan CEO Mounir Nakhla, “I am eager to collaborate with Karim and his skilled team to further expand our product offering to Egyptian merchants and increase our loan book and profitability.
With the help of Talabeyah’s end-to-end model, FMCG suppliers can contact more retailers and use direct marketing channels and real-time data for better planning.
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