Mynt is the First Unicorn in the Philippines
Mynt is the first unicorn in the Philippines, and plans to double its valuation to $2 billion through future funding. The company has already raised about $300 million. The company’s strategy is to expand its product line, including GLoan. And the company has the experience to execute the strategy. If you want to know about mynt filipino telecom 175m techasia just read the whole article and get the information.
Mynt has become the first unicorn in the Philippines
Mynt, a fintech startup based in the Philippines, has just raised over $300 million from global investors, including China’s Ant Group and Globe Telecom. Its valuation is now over $2 billion, making it the first unicorn in the country. Its new funding round was co-led by global investment giant Warburg Pincus, and Insight Partners, a private equity and venture capital firm. It also has the backing of existing investors Globe Telecom and Ayala Capital.
Mynt is a fintech that offers financial services to consumers in the Philippines, including savings and loans. Through its Mynt app, customers can manage their accounts and pay bills. They can also buy insurance and make investments. The company also runs two microfinance products, Fuse and GCredit. With over 48 million active users and a gross transaction value of PHP 2.8 trillion, Mynt is well-positioned for growth.
Mynt is a fintech company backed by Globe Telecom, Ayala Corporation, and Bow Wave Capital Management. Its GCash mobile payment platform is its biggest rival in the payments market. Mynt raised $300 million in November last year at a valuation of $2 billion. Last month, it announced the integration of digital currency purchase services into its mobile app.
The startup is also testing out a new cash loan product called GLoan, which will be available in 2021. It will allow qualified borrowers to borrow up to PHP25,000 and pay it back over a year. It plans to roll out more buy now pay later products within the year.
Mynt is also backed by Globe Telecom, which owns a 34% stake in the company. The mobile wallet has 48 million active users and is expected to reach 3 trillion pesos in gross transaction value this year. Besides existing investors, Mynt has secured funding from Chinese firm Ant Financial, which is an affiliate of Alibaba Group Holding.
It aims to double its valuation to $2 billion in future fundraising
Philippine fintech player Mynt is seeking to double its valuation to $2 billion in future funding. The company is backed by Ant Group and is the developer of the popular GCash mobile wallet. In January, it closed a $175 million round, valued at just under $1 billion. Since then, it has added 11 million users. The company is competing with traditional banks and digital challengers in the country.
It plans to launch GLoan
Mynt, a Filipino telecom company, is piloting a new cash loan offering dubbed GLoan. The new product lets qualified borrowers borrow up to PHP25,000 and pay it back over a year. It joins its existing GCredit offering, which disburses more than $200 million USD monthly. As of June this year, Mynt had disbursed more than $3 billion USD in total. The company plans to also launch Buy Now Pay Later and GCash services later this year.
The mobile payment company has recently raised $300 million in funding. Its valuation is estimated at over $2 billion. The investment was led by Warburg Pincus and Insight Partners, as well as local investors Globe Telecom and Ayala. Mynt has already won several awards for its service.
Mynt is owned by the Philippine mobile operator Globe Telecom. Its GCash app allows customers to buy prepaid airtime, pay bills with more than 600 billers across the country, send money to friends and family, and access other financial services. The company has 48 million active users, or about half the national population. It has recorded a record high of 12 million daily app log-ins.
Mynt is a fintech firm that started in 2015 and has quickly become a leader in the Philippines. It claims nearly half of the population uses its technology and is on track to reach PHP3 trillion in gross transaction value. The company reports that its daily active transactions and peak app log-ins have reached more than 12 million. It has also recently partnered with German technology rental firm Grover, which has already announced plans to launch a local version of its platform.
It has raised $300 million in funding
Mynt is a digital financial solutions company based in the Philippines. It has received $300 million in funding from global investors. Its funding round included investors such as Warburg Pincus, Insight Partners, and Amplo Ventures. The company is valued at over $2 billion.
The company offers a range of financial services, including mobile money transfers, prepaid airtime, and bill payment through its GCash app. It also has partnerships with more than 600 billers in the country. Mynt also offers savings and credit accounts, insurance, and investment services. Its customers number around 48 million, which is nearly half of the country’s population. Currently, the app has a total of 12 million active transactions each day.
The new funding will help Mynt expand its existing financial services portfolio. It is currently testing a cash loan product, GLoan, that allows qualified users to borrow up to PHP25,000 and repay it over 12 months. It also plans to launch a buy now pay later offering within the year.
The investment comes on the heels of the company’s recent acquisition of Moneygram, the second largest money-transfer company in the world. Additionally, the company owns Alipay, a third-party payment services platform. It has a huge market capitalization of over $1 billion.
It is a rival of PLDT
The Chinese tech giants are pouring money into the Philippines to compete with PLDT. They have invested in Mynt, which owns the local mobile wallet GCash. The deal could be worth $175 million. The deal also includes a stake from PLDT, which is still a major shareholder in Voyager Innovations.
Voyager also invests in fintech companies. Its platform PayMaya enables Filipinos to send money, buy phone credit, pay their bills and shop online. PLDT also plans to invest in its legacy telecoms business, which is why it sold its stakes in Rocket Internet in May. It has also disclosed a new investor in Voyager, which has been posting losses for the first half of this year. Voyager is also the owner of the popular free internet and rewards app Freenet. I hope you are satisfied with this information about mynt filipino telecom 175m techasia.
