A Philippines based leading technology company, Voyager Innovations, raised US$210 million in new funds, thrusting Voyager’s valuation at US$1.4 billion.
Voyager Innovations is also the owner of end-to-end money platform PayMaya and neobank Maya Bank.
As per reports, the new funds will be used to launch Maya Bank services including savings and credit. These new services will be provided smoothly across PayMaya’s platforms for consumers and all sized enterprises, or MSMEs.
The firm will help PayMaya establish itself as an all-in-one money app of the Philippines. This will be achieved by augmentation of PayMaya’s offering with latest products like cryptocurrency, micro-investments, insurance.
The funding round was led by SIG Venture Capital, the Asian venture capital arm of SIG.
Notably, Tencent, the Chinese Tech. Giant, which was in news for including support for the country’s digital yuan with its WeChat update, also participated in the round.
Other participants in the funding round were EDBI, First Pacific Company, PLDT, KKR, International Finance Corporation, IFC Emerging Asia Fund and IFC Financial Institutions Growth Fund.
It is also informed that Voyager had recently applied for a digital bank license with Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank. Notably, Maya Bank has already received one of the six digital banking licenses from the BSP in September 2021 and started pilot testing Maya Bank last month.
