May 25, 2022

Voyager Inventions, proprietor of the PayMaya bills and monetary products and services app PayMaya and Neobank Maya Financial institution, introduced lately that it has raised $210 million, bringing its valuation to $1.4 billion.

The spherical was once led via SIG Project Capital and was once attended via EDBI and First Pacific Corporate, in addition to everlasting shareholders PLDT, KKR, Tencent, Global Finance Company and IFC Rising Asia Fund and IFC Monetary Establishments Enlargement Fund.

The cash might be used to release Maya Financial institution products and services, together with financial savings and mortgage merchandise thru PayMaya, which has over 47 million registered customers and, together with GCash and Cash, is without doubt one of the most well liked monetary apps within the Philippines.

Voyager additionally plans so as to add cryptocurrencies, micro-investments and insurance coverage merchandise to PayMaya, which already contains virtual wallets, on-line transfers, invoice bills, financial institution transfers, pay as you go playing cards and an e-commerce characteristic known as PayMaya Mall.

Voyager’s newest investment spherical got here in July 2021, when the corporate raised $167 million to organize for the release of its Neobank.

On the time of this announcement, Voyager stated it had implemented for a virtual banking license from the Philippines’ central financial institution, Bangco Central ng Pilipinas (BSP). Just about part of the country’s adults wouldn’t have a checking account, in keeping with BSP, however the corporate has set a function of changing 70% of Philippine adults into checking or checking accounts via 2023.

Maya Financial institution gained one among six virtual banking licenses from BSP in September 2021 and started trying out Maya Financial institution in March 2022.

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