Halan, Transportation Startup, Raises Millions of Dollars in Funding Round

Halan, a motorcycle and Tuktuk ride-hailing startup, received multi-million dollar investments led by Algebra Ventures, Battery Road Digital Holdings, among other investors in a Series A round that it closed months ago, according to MENA Bytes. Halan did not disclose the exact size of the investment.

Halan was launched last year targeting untapped markets by other ride-hailing companies. Since closing this funding round, the startup expanded to many cities across Egypt and The Sudan, and they plan to expand to more countries and develop their technology.

"I launched Halan to solve a real problem, to serve a real need in the market. 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,” said Mounir Nakhla, CEO and C-founder of Halan.

Photo credit: Halan's Facebook page.