Egyptian B2B e-commerce platform Talabeyah has been acquired by fintech company MNT-Halan for an undisclosed amount.
Founded in 2020 by Karim Nassef, Amr Abbas, Khaled Hussein and Adel Hodroj in July 2020, Talabeyah provides a tailored simple solution for retailers, allowing them to order inventory in one click.
Its end-to-end model also provides FMCG suppliers with bigger reach to retailers, direct marketing communication channels, and real-time data to enable them for better planning.
The startup raised US$1.1 million in funding late last year, and has now been acquired by MNT-Halan, a “super app” provider that provides digital solutions, including lending, buy now pay later, e-commerce, payments, and mobility and on-demand logistics.
Disrupt Africa reported in September of last year the company had secured a US$120 million investment by major global and regional growth investors to help it expand, and adding a digital FMCG offering to its merchant network greatly enhances the company’s breadth and scope and increases stickiness to its ecosystem.
“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.