The Egyptian "Immediately" aims to exceed its finance portfolio of one billion dollars this year

According to founder and CEO Mounir Nakhleh, the volume of the Egyptian memory of Company, “MNT” will exceed more than one billion dollars before the end of 2024. He added ‘Al -Sharq’ today on the sidelines of a press conference in Cairo that was “immediately” submitted to the general authority for financial supervision to obtain new licenses for the financing of rental activities, stripping and financing of real estate, in addition to announcing licenses for investment funds, without disclosing their size and nature. The Egyptian initial company, MNT (immediately), raised the $ 157.5 million financing in mid -July, spreading with $ 40 million from the World Bank International Finance Corporation (IFC), and $ 117.5 million of the two companies, “Devilopmann Tent International” and “Laxa Capital Partners”. 117.5 million dollars. Nakhle has the use of “the majority of financing we recently obtained to obtain the entire shares of the Turkish Tam Finance Capital, which specializes in financing and making.” He revealed that the Turkish company owners acquired the shares of about 10% of “immediately” according to the agreement. “Immediately”, founded in 2017, is a financial technology company that provides smart financial solutions to small projects and individuals without the need for banking procedures as it provides services, which are financing, installments and electronic payments to more than 7 million clients in Egypt. The CEO of Al -Sharq said during the next two years that his company is considering expanding in new markets, including Saudi Arabia and African and Asian countries. And ‘immediately’ announced after closing the recent financing round that he is looking forward to expanding mainly outside Egypt. ‘Immediately’ raised funds worth $ 400 million in February 2023, preceded by about $ 120 million in 2021, to reach the total of its investors, including the financing round this month, about $ 680 million. On the company’s plans to include its shares on the stock exchange, Nakhle replied that “the offer is being scrutinized.” At the same time, the intention to acquire new businesses in Egypt is currently excluded.