- Mitsubishi acquires stake in Philippine fintech giant Mynt
- GCash serves 94M users
- Deal values company at $5B
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.
