Philippines-based Voyager Innovations, owner of local e-wallet PayMaya and digital bank Maya Bank, has raised US$210 million.
The round was led by SIG Venture Capital, the Asian venture capital arm of Susquehanna International Group; with EDBI and First Pacific Company participating.
This brings the valuation of the company to almost US$1.4 billion, propelling it into unicorn status.
The freshly raised funds will go to launching services, including savings and credit products of Maya Bank, one of six digital banks licensed by the Philippines’ central bank.
Maya Bank's pilot tests started March 2022 after securing the license in September 2021.
Returning Investors in the Round
- PayMaya is a financial services and digital payments company based in Metro Manila, Philippines and was founded in 2007.
- In the first quarter of 2016, PayMaya processed US$1 billion in transactions.
- Voyager’s last round of funding was in July 2021, with the company raising US$167 million from global investment firm KKR and Philippines' telecommunications company PLDT among others, in preparation to launch its digital bank.
- PayMaya currently has over 47 million registered users, and it recently rolled out a cryptocurrency feature in its mobile app.
