• The company serves over 47 million people worldwide through its consumer platform.
• Voyager had managed to raise USD 167 million for its expansion program led by World Bank Group’s IFC in June last year.

Philippine fintech startup Voyager Innovation Inc. has reportedly secured USD 210 million in its recent funding round, now valuing the company at over USD 1 billion as well as making it the country’s second company to enter the prestigious unicorn club.

The latest fundraising round saw participation from First Pacific Company Limited, Singapore-based global investor EDBI, and SIG Venture Capital as well as existing investors such as PLDT, China's Tencent Holdings Ltd., KKR & Co. Inc., and International Finance Corp (IFC).

For those unaware, Voyager Innovation serves over 47 million people worldwide through its consumer platform which includes digital payments and an e-wallet. It aims to use its fresh capital to fund its services like micro-investments, digital banking ventures, and cryptocurrency.

Before the latest fundraising that now values the company at USD 1.4 billion, Voyager had managed to raise USD 167 million for its expansion program led by World Bank Group’s IFC in June last year.

It is also worth mentioning that Mynt is the only other Philippine unicorn as well as a rival of Voyager that has reached a USD 1 billion valuation. Mynt is the result of a partnership among Ant Group, Globe Telecom Inc., and Bow Wave.

According to sources, the Philippines is known to be one of the fastest-growing fintech markets in Southeast Asia in the recent past given the rising demand for digital services during the COVID-19 pandemic. In 2021, the country’s internet economy grew 93% to USD 17 billion and is projected to expand by USD 40 billion by 2025.

Source Credit:

https://www.saltwire.com/atlantic-canada/business/reuters/philippine-fintech-voyager-raises-210-million-gains-unicorn-status-100717312/