E-wallet company MoMo raises at least 100 million USD in latest funding round
(VOVWORLD) - Vietnam’s biggest e-wallet company, MoMo has raised at least 100 million USD from six global investors, including Warburg Pincus, as part of plans to become a “super-app” and go public by 2025.
 (Source: vnexplorer.net) |
The amount was not disclosed due to MoMo’s strict agreement with investors but this deal size is somewhat bigger than its previous fundraising of 100 million USD, MoMo’s CEO told Reuters.
The latest funding would support the growth of MoMo as an all-in-one smartphone application offering multiple services. Such “super-apps” include Grab in Singapore, and Indonesia’s Gojek.
The Vietnamese e-wallet said in a statement that US funds Goodwater Capital and Kora Management and Australia’s Macquarie Capital invested for the first time while existing shareholders Warburg Pincus of the US, Affirma Capital of the UK and Tybourne Capital Management of Hong Kong (China) increased their investments.
According to MoMo’s official website, the company has 23 million customers and clocked 14 billion USD worth of transactions last year.