Blackstone, CVC Capital Partners, and Japan’s MUFG are among bidders for a stake in Vietnam-based fintech company MoMo as it pursues a partial sale, with binding bids due in September.

The stake size has not been finalized and could be as much as 50%.

In April, MoMo was exploring strategic options, including bringing in new investors, in a process that could value the company at more than US$2 billion.

The process may still not result in a deal.

Founded in 2010, MoMo has expanded from mobile payments into consumer lending, insurance, savings, investment, and merchant tools in Vietnam. The company has been profitable since 2024.

A 2024 report said MoMo had around 31 million users and handled nearly half of Vietnam’s e-wallet transactions.

Warburg Pincus said in 2021 it was MoMo’s largest shareholder after co-leading the company’s series D funding round with Goodwater Capital.

New investors in that round included Kora Management, and Macquarie Capital, while existing shareholders included Affirma Capital and Tybourne Capital Management.

Another 2024 consumer report said MoMo led Vietnam’s e-wallet market.

🔗 Source: Reuters