Mynt Filipino 175m Techasia
The Philippines is home to the lone unicorn, Mynt. The company recently raised $175 million in multiple tranches. With future funding, it plans to double its valuation to $2 billion. This demonstrates Mynt’s ability to scale. It’s already registering 44 million users and 2.5 million social sellers.
Mynt is the lone unicorn in the Philippines
Mynt Filipino 175m Techasia is a payments platform that owns payment services app GCash. The company has a top-notch management team, innovative technology, and superior product offerings. The company recently raised $167 million from various investors. The round was led by Warburg Pincus and Insight Partners. The company is led by Globe Telecom executive director Ernest L Cu.
The company’s success fueled interest from global investors. Last year, Mynt raised more than $300 million from investors including China’s Ant Group and Globe Telecom. The funding pushed the company’s valuation to more than $2 billion. Other investors in the round included Warburg Pincus, Insight Partners, and Itsiddon Ventures. Ant Group remains a significant shareholder and partner.
Mynt Filipino 175m Techasia is a payments app in the Philippines that’s been funded by China’s Ant Group and Globe Telecom. It has secured more than $300 million in funding from global investors like Warburg Pincus, Insight Partners, and Bow Wave Capital. It also had the support of major companies like Globe and Ayala in its latest funding round. The company claims to have more than 48 million users and is on track to reach PHP 3 trillion in gross transaction value.
Mynt has recently piloted a cash loan product, called GLoan. The GLoan service offers up to PHP25,000 over a 12-month payment term for qualified borrowers. The company also plans to launch a Buy Now, Pay Later service next year.
The startup has been able to leverage its unique location and culture to provide financial services to its users. Its e-wallet GCash now has 48 million users. The company is the only unicorn in the Philippines that has managed to secure funds from foreign investors.
Mynt’s flagship platform, GCash, allows consumers to buy prepaid airtime, pay bills through 600 partner billers across the country, send money anywhere in the Philippines, and access financial services. The company has over 48 million registered users, which is more than half of the country’s population. It also boasts more than three million merchant partners and social sellers. The company anticipates that the number of gross transactions will reach twenty billion in 2020.
It raised $175 million in multiple tranches
Philippine fintech player Mynt is aiming to double its valuation to $2 billion. The fintech company, backed by Ant Group, is behind the popular GCash mobile wallet. The company closed a $175 million funding round in January, and since then, it has added 11 million users. The company faces competition from traditional banks and digital challengers.
Bow Wave Capital Management, the investment firm that manages the mobile wallet GCash, and Globe Telecom are among the new investors in Mynt. The investment firm owns about a ten percent stake in Mynt. The remaining stakes are held by Ayala Corporation, Globe Telecom, and Ant Financial.
The startup is the first in the Philippines to provide services for financial inclusion. Its products and services enable consumers to make payments, remit remitts, and receive loans. In addition, it offers business solutions. This has led to significant investor interest in the fintech sector in SEA.
Mynt Filipino 175m Techasia is a mobile app that allows Filipinos to access banking convenience. They can use the app to open deposit accounts, invest in money market funds, and purchase insurance products, all within their mobile devices. Its management is confident that Mynt is poised to become a unicorn in the Philippines.
The investment from Bow Wave, a private equity fund based in New York, raised a $175 million equity investment in Mynt, the company behind GCash. The investment is expected to spur financial inclusion in the Philippines and will result in a minority stake in Mynt.
It plans to double its valuation to $2 billion through future funding
Mynt Filipino 175m Techasia is a Filipino fintech company that is looking to double its valuation with future funding. The company is backed by Chinese investment giant Ant Group and has recently raised $175 million in a new round of funding. With that money, Mynt plans to expand its financial service offerings and double down on lending.
The new funding will allow Mynt to pursue its vision of democratizing finance in the Philippines. According to the company’s CEO, the funding will enable the company to pursue its mission of providing financial services to everyone. Mynt has a long way to go before it can reach its full potential, but the firm’s progress is encouraging.