Voyager, which serves 47 million people through its consumer platforms covering electronic money and digital payments, said the new capital will fund its digital banking business and other services such as cryptocurrencies and micro-investments.
SIG Venture Capital, an Asian venture capital division SIG, a Singapore-based global investor in EDBI and investment holding company First Pacific Company Ltd, has joined the financing phase as new investors, Voyager reported.
Voyager’s existing shareholders, such as PLDT, the private equity firm KKR & Co Inc, the Chinese company Tencent Holdings Ltd and International Finance Corp. (IFC), also participated in the capital injection.
According to him, the latest funding has increased Voyager’s valuation to 1.4 billion. In June, Voyager raised $ 167 million for its expansion program. USD, including the IFC division of the World Bank Group as a new investor.
Voyager’s rival Mynt is the only Filipino unicorn or start-up worth at least $ 1 billion. Mynt is partly owned by Globib Telecom, Bow Wave and Ant Financial, Alibaba’s financial technology divisions.
The Philippines is one of the fastest growing financial technology markets in Southeast Asia, and the adoption of digital services is growing rapidly during a pandemic. According to a report by Google, Temasek and Bain & Co, its Internet economy in 2021 increased by 93% to 17 billion. USD, and until 2025. should reach 40 billion.
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