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Vietnamese fintech firm MoMo weighs investors at over $2b valuation
MoMo, a Vietnam-based fintech company, is exploring options – including bringing in new investors – in a process that could value the company at more than US$2 billion after drawing interest from strategic and financial backers.
The company has hired Jefferies and Morgan Stanley to run the process, adding that discussions are still early and may not lead to a deal.
MoMo has been profitable since 2024, while an IPO is not a near-term plan. Its last major round raised US$200 million in 2021, and the company says it has more than 30 million users.
🔗 Source: Reuters
🧠 Food for thought
Implications, context, and why it matters.
MoMo’s scale goes far beyond its user count
- Profitability came later, yet the business already runs at large volume. It brought in US$482 million in revenue in 2024 and handled 5.5 billion transactions in the first quarter of 2025 12.
- That throughput has helped MoMo rank among Vietnam’s top e-wallets. The company says it serves over 30 million users 2.
- MoMo grew from a mobile top-up tool into a “super app.” It added services such as insurance payments and investment marketplaces, which widened its offering into a broad ecosystem 3.
A mature fintech leader now shapes Vietnam’s next chapter
- MoMo has already sped up cashless adoption in Vietnam and shifted consumer habits. Some describe the result as a “post-MoMo reality” 2.
- New rules, including mandatory in-person biometric verification (identity checks using physical traits such as fingerprints or facial recognition) for new e-wallet registrations starting in 2026, will increase compliance spending and raise the bar for new entrants 4.
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