Voyager Innovations, the Philippines-based technology company behind the end-to-end money platform PayMaya and neobank Maya Bank, has raised $210m.
SIG Venture Capital, the Asian venture capital arm of SIG, led the round. Other new investors included Singapore-based global investor EDBI and investment holding company First Pacific Company. The funding propels Voyager to a $1.4bn valuation.
Also participating in the round was Voyager’s existing shareholders PLDT, the Philippines’ largest integrated telecommunications company; KKR, a global investment firm; Tencent, a leading technology company; International Finance Corporation, and IFC Emerging Asia Fund and IFC Financial Institutions Growth Fund, two funds managed by the IFC Asset Management Company, a division of IFC.
Voyager said it will use the new funds to launch Maya Bank services, such as savings and credit, which will be offered across PayMaya’s platforms for consumers and enterprises, including micro, small, and medium-sized enterprises or MSMEs. It will also continue to expand PayMaya’s offering with new products like cryptocurrency, micro-investments, insurance, and more.
Orlando B. Vea, Voyager and PayMaya CEO and founder, said, “Our strong record of execution and innovation is a testament to our world-class team’s hard work and talent. With this milestone, we are excited to leap forward and bring the best of PayMaya and Maya Bank to help unlock the digital economy for the underserved and unbanked Filipinos.”
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