Halan, ride-hailing app for motorcycles & tuktuks, raises multi-million Series A
Halan raised a multi-million dollar round of funding earlier this year and has launched across the country in Egypt and Sudan. Halan has facilitated over 3 million rides since inception.
3 DECEMBER, CAIRO. Halan, Egypt & Sudan’s first motorcycle & tuktuk ride-hailing app, has introduced smart mass transportation in large, untapped markets. Operating across several governorates in Egypt and Sudan, Halan has facilitated over 3 million rides. It is the fastest growing app in Egypt, providing safe, convenient, and affordable transportation for underserved communities while creating thousands of high-value jobs.
Earlier this year, Halan raised a multi-million dollar funding round co-led by Singapore’s Battery Road Digital Holdings and Egypt’s Algebra Ventures, which was joined by existing strategic shareholders and individual investors.
Halan was founded in 2017 by Mounir Nakhla & Ahmed Mohsen. Nakhla, serving as the CEO, is a veteran entrepreneur who is no stranger to Egypt’s booming alternative transport market. Nakhla previously co-founded Mashroey, Egypt’s largest light-transport financing business, as well as Tasaheel, Egypt’s fastest growing micro-financing business. Mohsen, serving as the CTO, is an experienced technology entrepreneur & information architect who previously founded MusicQ & CircleTie.
‘I launched Halan to solve a real problem, to serve a real need in the market,’ says Mounir Nakhla, Halan CEO & founder, ‘While other people were looking at informal and rural communities as spaces full of challenges and poverty, my experience with micro-finance in underserved markets showed me how much wealth and opportunity there is. Halan is a technology solution that is built to put people first and improve their livelihoods. All over the country, it moves people and goods safely, efficiently, and economically and generates thousands of jobs. We will use this round of funding to expand to more cities and more countries, offer more services, and to build better technology.’
‘We’re excited about this opportunity,’ says Algebra Ventures’ Managing Partner, Karim Hussein, ‘Halan is providing a highly underserved and large segment of the population with affordable, convenient, and safe transportation. They’re helping people get to work and get their children to school, and they will continue to provide additional high-quality services to the community. We believe that Mounir and his team have the vision and the expertise to make accessible smart transportation a reality for all in Egypt and beyond.’