FinTech: Philippine Fintech Holding Company Voyager Raises $210M

April 12, 2022 | FinTech, News, Venture Capital
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Voyager Innovations owns the end-to-end money platform PayMaya and neobank Maya Bank.

Philippine fintech leader Voyager Innovations turned unicorn at a valuation of nearly $1.4 billion after it raised $210 million. The round was led by new investor SIG Venture Capital, the Asian venture capital arm of SIG. Other new investors included Singapore-based global investor EDBI and investment holding company First Pacific Company Ltd. (BusinessWire)

Existing investors including PLDT Inc., 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, also participated.

Voyager owns the end-to-end money platform PayMaya and neobank Maya Bank. It will use the new money to launch Maya Bank services, such as savings and credit, which will be offered across PayMaya’s platforms. It will also expand PayMaya’s offering with new products like cryptocurrency, micro-investments, insurance, and more.

Voyager entered the digital banking space with Maya Bank, securing one of the six digital banking licenses from the BSP in September 2021 and commencing pilot testing in March 2022.

Unified fintech ecosystem

Voyager’s PayMaya is the only fintech serving all segments of consumers and enterprises with a widely used consumer e-wallet app, the leading enterprise payment processing business, and the most extensive on-ground agent network, Smart Padala, with more than 63,000 agent touchpoints.

Akshay Bajaj who led the investment for SIG said: “The PayMaya team is a world-class set of professionals who have built the most complete and unified fintech ecosystem in the market. Leveraging PayMaya’s distribution strength with enterprises and consumers, Maya Bank has the potential to be one of the most successful digital banks not just in the Philippines, but globally.

Related Story: Moove, An African Mobility Platform And Financier, Raises $105M

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