Parent firm of Tencent-backed PayMaya bags $167m for launch of digital bank

Philippines-based Voyager Innovations, which owns payment and financial services app PayMaya, has raised US$167 million in new funding.

More funding details

• Existing investors: Philippine-based integrated telecom firm PLDT, global investment firm KKR, and Chinese tech giant Tencent
• New investors: IFC Financial Institutions Growth Fund, a fund managed by the IFC Asset Management Company
• Stage: Unspecified

More company updates

• Voyager says it will use the fresh funds to expand PayMaya’s services with new products, such as credit, insurance, savings, and investments, through its upcoming digital bank.
• The latest capital includes US$121 million in new funding and US$46 million from previously committed funds.
• Voyager has raised about US$452 million in funding to date.
• Launched in 2015, PayMaya allows users to receive money, send remittances, pay bills, and make online payments.
• PayMaya also focuses on digital commerce through PayMaya Mall, an in-app feature that has already onboarded more than 350 merchants.

For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.