fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Vietnamese e-wallet MoMo secures US$200 million funding, valuation tops US$2 billion

AsiaTechDaily Writer by AsiaTechDaily Writer
21 December 2021
in Featured, Mobile payments
0
MoMo
19
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Vietnam’s biggest e-wallet firm MoMo has raised US$200 million in a Series E funding round led by Japanese Bank Mizuho. The investment round was joined by Goodwater Capital, Kora Management, and Hong Kong-based Ward Ferry Management.

With the latest funding round, MoMo enters the unicorn category with its valuation surpassing US$2 billion.

The startup also intends to go public in the year 2025.

MoMo will be using the fresh funding to increase the reach of its financial services products among its 31 million users, grow its presence to serve MSMEs merchants in the country, and invest further in Vietnamese companies to strengthen its ecosystem.

The startup also plans to strengthen and expand its services in more rural areas and tier 2 and 3 cities. It is Vietnam’s largest e-wallet by users and aims to double the number of users to 50 million in the next two years.

“We are seeking to broaden our retail financial business footprint with particular focus on the ASEAN region, digital transformation, and financial inclusion. We will collaborate with MoMo with the aim of facilitating its future growth and increasing financial inclusion in Vietnam,” said Daisuke Horiuchi, managing executive officer at Mizuho’s retail business company.

MoMo had raised an undisclosed amount in Series D funding round in January 2021 that was co-led by Goodwater Capital and return investor Warbug Pincus. New investors Macquarie Capital and Kora Management also participated in the round along with existing investors Tybourne Capital Management and Affirma Capital.

The company claims that its revenue has grown 2x as compared to 2020

About MoMo   

Founded in 2007 by Diep Nguyen and Tuong Nguyen, MoMo is an e-wallet and payments app that allows users to make payments and transfer money digitally.

MoMo claims that it has over 140,000 payment acceptance points spread across all business verticals. Its partner networks include 50 financial institutions and banks, as well as 50,000 business brands.

The startup has developed its e-wallet to a super-app marketplace that integrates services such as digital vouchers, insurance, credit products, among others.

Tags: e-walletinsuranceMSME
Previous Post

India’s FinTech giant Razorpay raises US$375 million, valuation soars to US$7.5 billion

Next Post

India-based B2B seafood marketplace Captain Fresh raises US$40 million in a Series B funding round

Related Posts

edit post
Korean startup AITest.AI has established itself as a market leader in training to meet the growing demand for education in AI system testing. Recently, AITest.AI launched an innovative AI-testing training course on Udemy, a global e-learning platform, and has attained the topmost position in this field.
AI & Big Data

AITest.AI Emerges as Global Leader in Artificial Intelligence System Testing Training

March 24, 2023
edit post
PhonePe
Featured

Indian fintech PhonePe raises $200m more from Walmart

March 21, 2023
edit post
Antler
Featured

Antler to invest in over 30 startups in Indonesia this year

March 21, 2023
edit post
WeBudding
Content & Games

Korean startup WeBudding partners exclusively with the most popular free app Goodnotes 5 to provide Korean digital stationery content to users globally

March 17, 2023
edit post
One Impression
Featured

One Impression raises $10m in Series A to expand product offerings

March 15, 2023
edit post
Bababos
Featured

Indonesian startup Bababos closes pre-seed funding led by East Ventures

March 15, 2023
Next Post
edit post
Captain Fresh

India-based B2B seafood marketplace Captain Fresh raises US$40 million in a Series B funding round

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback