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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
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PayMaya owner Voyager Innovation raises $167M from KKR, Tencent and IFC, to launch digital bank in the Philippines
Voyager Innovations, the Manila-based owner of PayMaya, one of the Philippines’ most popular payment and financial services apps, announced today it has raised $167 million in new funding to launch more financial services, including a digital bank.
The raise includes $121 million in new funding, and $46 million from previously committed funds. Voyager announced in April 2020 that it had secured up to $120 million in investment commitments from PLDT, KKR, Tencent, the International Finance Group (IFC) and the IFC Emerging Asia Fund.
The latest capital came from existing shareholders PLDT, one of the country’s largest telecoms, KKR and Tencent, and new investors, including IFC Financial Institutions Growth Fund, managed by IFC AMC, a member of the World bank Group (another one of Voyager’s investors).
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