Philippines' Voyager raises $167 million from KKR, Tencent, World Bank unit | Inquirer Business
Close  

Philippines’ Voyager raises $167 million from KKR, Tencent, World Bank unit

/ 02:35 PM June 28, 2021
tencent

A Tencent logo is seen in Beijing, China September 4, 2020. REUTERS FILE PHOTO

MANILA, Philippines — Philippine digital and financial services firm Voyager Innovations has raised $167 million for its expansion program, including a venture into digital banking, its listed and largest shareholder said on Monday.

Shareholders PLDT Inc, private equity firm KKR & Co Inc and Chinese tech giant Tencent Holdings Ltd participated in the funding round, PLDT said in a disclosure.

ADVERTISEMENT

Voyager, which serves 38 million Filipinos through its consumer platforms that include e-wallet and digital payments, welcomed a unit of the World Bank’s International Finance Corp as a new investor.

The fintech firm said it applied for a digital banking license with the Philippine central bank, which has so far granted three firms an approval to operate.

FEATURED STORIES

Only a third of Filipinos have a formal bank account, among the lowest in Asia, giving fintech firms an attractive leeway for growth.

Subscribe to our business newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, FinTech, KKR, PLDT, Tencent Holdings, Voyager Innovations, World Bank
For feedback, complaints, or inquiries, contact us.

Subscribe to our business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.