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Philippines’ Voyager Innovations Secures US$167 M for PayMaya Expansion Into Financial Services, Digital Banking
June 28, 2021 GMT
MANILA, Philippines (BUSINESS WIRE) Jun 28, 2021
Voyager Innovations (“Voyager” or the “Company”), the leading technology company in the Philippines, announced that it raised US$167 million to fast-track financial inclusion in the Philippines through its financial technology arm, PayMaya Philippines (“PayMaya”).
Participating in the funding were existing shareholders PLDT Inc. (“PLDT”) (NYSE: PHI) (PSE: TEL), the Philippines’ largest integrated telecommunications company and leading digital services provider; KKR, a global investment firm; and Tencent, a leading technology company in China. Voyager welcomed IFC Financial Institutions Growth Fund, a fund managed by the IFC Asset Management Company (“IFC AMC”), as a new investor. IFC A
Published June 28, 2021, 1:43 PM
Tech firm Voyager Innovations raised US$167 million (P8.15 billion) to establish a digital bank via its financial technology arm, PayMaya Philippines (PayMaya).
Existing shareholders PLDT Inc., global investment firm KKR and leading Chinese tech firm Tencent participated in the fund-raising, which consisted of US$121 million fresh investments and US$46 million previously committed funds.
Voyager welcomed IFC Financial Institutions Growth Fund, a fund managed by the IFC Asset Management Company (IFC AMC), as a new investor.
IFC AMC is a division of the International Finance Corporation (IFC), a member of the World Bank Group, and an existing investor in Voyager.