- GCash valuation hits $5B.
- New investments pending.
- IPO plans for 2025 in the works.
GCash, the Philippines’ leading e-wallet, has skyrocketed to a valuation exceeding $5 billion, more than doubling its worth since 2021.
This impressive leap comes on the heels of potential investments from AC Ventures Holdings and Japan’s Mitsubishi UFJ Financial Group (MUFG), each looking to acquire an 8% stake for approximately $393 million.
All-in-one financial playground
Boasting 94 million users, GCash has transformed into a one-stop shop for Filipinos’ financial needs.
From paying utility bills to investing in stocks, the app offers a comprehensive suite of services.
GCash’s success lies in its focus on accessibility and partnerships, collaborating banks, insurance companies, and e-commerce brands to expand its offerings.
IPO on the horizon?
Although the new investments are still subject to final agreements, GCash’s parent company, Mynt, is already eyeing bigger moves.
The company hinted at plans for a potential public offering in 2025, signaling confidence in its continued growth and market dominance.
