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Reading: Mitsubishi Pours $319M Into GCash Parent Company Mynt
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Fintech

Mitsubishi Pours $319M Into GCash Parent Company Mynt

Rary Maharani
Last updated: October 27, 2024 2:10 am
Rary Maharani
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1 Min Read
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  • Mitsubishi acquires stake in Philippine fintech giant Mynt
  • GCash serves 94M users
  • Deal values company at $5B

Contents
Money MovesPowerhouse NumbersBuilding Digital Finance

Money Moves

Mitsubishi has made a significant stride into Philippine fintech by investing 18.4B PHP ($319M) in Mynt, the parent company of GCash.

The deal involves purchasing 50% of AC Ventures Holding Corp from Ayala Corporation, representing roughly 13% ownership in Mynt.

Powerhouse Numbers

GCash stands tall among Southeast Asian fintech players, boasting 94M registered users.

The company’s last valuation reached $5B during an August funding round, which included participation from Mitsubishi UFJ Financial.

Building Digital Finance

Mynt operates two key businesses: GCash, the leading e-wallet platform offering everything from bill payments to investments, and Fuse Lending, a digital micro-lending service.

Despite IPO speculation, the company maintains its focus on business growth pending regulatory approvals.

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